May 29 (Reuters) – Argentina urged a U.S. judge on Friday to
not expand by another $5.4 billion the amount it must pay
holders of defaulted debt before it can pay the majority of its
creditors who participated in two rounds of sovereign
U.S. District Judge Thomas Griesa adjourned the hearing in
New York without ruling on the matter, saying that these
creditors, along with those he ordered paid $1.33 billion plus
interest, should resume settlement discussions with the South
I have to admit, I was a little surprised. The invitation to a book signing came from an emerging markets investment firm by one of their investment professionals and on the face of it didn’t really excite me. But I do have a lot of respect for the individuals at the firm and there was a quality to the invitation, one that didn’t say hard sell, that compelled me to go and see.
Nice new offices, tastefully decorated with soft earth tones, wonderful old world maps and a style that gives the impression this firm is filled with thinkers, talkers, and doers.
NEW YORK, May 22 (Reuters) – The U.S. dollar turned higher
on Friday, spurred off early losses after a U.S. inflation
report that indicated underlying pressures are building
bolstered the case for the U.S. Federal Reserve to raise
interest rates later this year.
Remarks by Fed Chair Janet Yellen later in the day that a
rate increase was on track this year added support for the
NEW YORK (Reuters) – Citigroup said on Friday it is selling its margin foreign exchange business, including the CitiFX Pro and TradeStream platforms to U.S.-based FXCM and Danish investment bank SAXO Bank.
“We believe this transaction is in the best interest of Citi’s Margin FX clients, who will experience a seamless transition to seasoned online retail specialists that can skillfully service their needs. The sale is expected to be completed in the second quarter,” the bank said in a short statement released to Reuters.
NEW YORK (Reuters) – The U.S. dollar turned higher on Friday, spurred off its early losses by a U.S. inflation report that indicated underlying pressures are building and thereby bolstering the case for the U.S. Federal Reserve to raise interest rates later this year.
“Stronger inflation, along with stronger growth data, is something that the Fed certainly wants to see,” said Brian Daingerfield, currency strategist at the Royal Bank of Scotland in Stamford, Connecticut. “Rate hike expectations have likely been brought forward as a result of some of the stronger data today.”
NEW YORK (Reuters) – Uganda, which has sent its troops to address regional instability in South Sudan and Somalia, is not considering putting any of its soldiers on the ground in Burundi where political unrest spurred an attempted coup on May 13.
“There are not plans for military intervention in Burundi,” Ruhakana Rugunda, told Reuters in an interview on Thursday.
NEW YORK, May 20 (Reuters) – The dollar hit a three-week
high against the euro and a two-month peak versus the yen on
Wednesday, extending a rebound rally underpinned by European
Central Bank plans to frontload its quantitative easing program
in a move to keep interest rates low.
“The ECB has taken the wind out of the euro’s sails,” said
Mark McCormick, currency strategist at Credit Agricole in New
NEW YORK (Reuters) – The dollar rose on Tuesday on unexpectedly better U.S. April housing data, compounding an earlier euro sell-off that was spurred by hints the European Central Bank could take more action to lower euro zone bond yields and boost inflation.
U.S. housing starts reached their highest level in 7-1/2 years in April, welcome news after dismal first-quarter data.
NEW YORK, May 18 (Reuters) – The U.S. dollar made
broad-based gains on Monday, recovering ground after several
weeks of selling that had brought the greenback down to more
attractive levels after prolonged strength.
The euro, which rose nearly 9 percent in value against the
U.S. dollar in the course of a month, pulled back more than 1
percent, its worst daily performance since mid-March.
NEW YORK (Reuters) – The U.S. dollar made broad-based gains on Monday, recovering some ground after several weeks of selling that brought the greenback to more attractive levels.
The euro, which rose nearly 9 percent in value against the U.S. dollar in the course of a month, pulled back close to one percent, its worst daily performance since mid-April.