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May 29, 2015

U.S. judge reserves judgment on broadening Argentina debt ruling

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
restructurings.

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
American country.

May 27, 2015
via Global Investing

The Best Emerging Market Investment?

Photo

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.

May 22, 2015

Dollar rallies on U.S. price data, Fed’s Yellen rate talk

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
greenback.

May 22, 2015

Citigroup selling retail online FX trading platform to FXCM, Saxo Bank

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.

May 22, 2015

Dollar regains footing, rises after U.S. inflation data uptick

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.”

May 21, 2015

Uganda rules out sending troops to Burundi – Prime Minister

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.

May 20, 2015

Dollar’s gains spurred by ECB’s bond buying plans

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
York.

May 19, 2015

Strong U.S. housing data boosts dollar; ECB hints on policy

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.

May 18, 2015

Dollar recoups lost ground, aided by higher Treasury yields

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.

May 18, 2015

Dollar sell-off takes a pause, Kiwi hit hardest

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.

    • About Daniel

      "Senior Correspondent covering global financial markets, investing and foreign policy. I'm New York-based with 20+ years of experience in text, TV and radio. My current post lets me roam across all asset classes and geography, from the developed to the emerging markets. I've reported and taught journalism in Asia, Europe, Latin America and the United States."
      Joined Reuters:
      1997
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