Senior Correspondent, New York
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Apr 2, 2015

Dollar mixed, euro rises before U.S. jobs report, holiday

NEW YORK (Reuters) – The dollar turned mixed on Thursday, finding spotty support from solid U.S. data that suggested the U.S. labor market continues to strengthen despite signs of an economic slowdown in the first quarter.

A rally for the euro against the dollar and yen was seen being dictated by investors taking profits on recent greenback strength heading into the long Easter holiday weekend that will be punctuated by the important March U.S. employment report on Friday.

Mar 31, 2015

U.S. dollar increases share of central bank FX reserves -IMF

NEW YORK, March 31 (Reuters) – The U.S. dollar increased its
share of allocated international reserves to 62.9 percent among
global central banks in the fourth quarter, data from the
International Monetary Fund showed on Tuesday.

The total amount of allocated foreign exchange holdings
shrank by 1.6 percent to $6.085 trillion from the prior quarter.
Overall foreign exchange holdings by the world’s central banks
slipped 1.41 percent to $11.6 trillion.

Mar 31, 2015

U.S., Japan have ‘significant gaps’ on auto market access: U.S. official

NEW YORK (Reuters) – Acting Deputy U.S. Trade Representative Wendy Cutler said on Monday that “significant gaps” in the trade negotiations remain between the United States and Japan regarding access for U.S. automobiles in the Japanese market.

“Japan has zero tariffs on autos and trucks, and yet access to the Japanese automotive market is limited. There is an array of non-tariff barriers in Japan that have effectively closed the Japanese auto market to U.S. producers,” Cutler said in prepared remarks on the Trans-Pacific Partnership trade negotiations delivered at the Japan Society in New York.

Mar 22, 2015

Insight – Sovereign issuers seek to thwart Argentina-style attacks by funds

NEW YORK (Reuters) – Government bond issuers are adopting new standards intended to thwart a strategy that’s plagued Argentina for 13 years, in which buyers snap up distressed debt for pennies on the dollar and then hold out for full payment after other investors have agreed to restructure.

Since August, as many as 12 of 22 recent emerging market issuers including Kazakhstan and Mexico have inserted language in their bond prospectuses that makes it prohibitively expensive for a single holdout to block a restructuring settlement that the majority of creditors may have accepted. This week Ecuador, which defaulted in 2009, issued new bonds that incorporate the language, developed by the International Capital Markets Association.

Mar 22, 2015

Sovereign issuers seek to thwart Argentina-style attacks by funds

NEW YORK, March 22 (Reuters) – Government bond issuers are
adopting new standards intended to thwart a strategy that’s
plagued Argentina for 13 years, in which buyers snap up
distressed debt for pennies on the dollar and then hold out for
full payment after other investors have agreed to restructure.

Since August, as many as 12 of 22 recent emerging market
issuers including Kazakhstan and Mexico have inserted language
in their bond prospectuses that makes it prohibitively expensive
for a single holdout to block a restructuring settlement that
the majority of creditors may have accepted. This week Ecuador,
which defaulted in 2009, issued new bonds that incorporate the
language, developed by the International Capital Markets
Association.

Mar 20, 2015

Ukraine expects to issue U.S.-backed debt by end of April – finance minister

NEW YORK (Reuters) – Ukrainian Finance Minister Natalia Yaresko said on Friday she has begun meeting with the embattled nation’s main creditors and expects to issue $1 billion (678 million pounds) in U.S. government-backed debt by the end of April as part of a larger IMF-backed loan package.

“People are taking U.S. government risk in this case. That is why they give a credit guarantee, otherwise we wouldn’t have access to the market at this time,” Yaresko told Reuters in an interview before speaking to the Council on Foreign Relations in New York.

Mar 13, 2015

Dollar-buying momentum trumps weak U.S. data, euro skids lower

NEW YORK, March 13 (Reuters) – Dollar-buying momentum lifted
the greenback to a fresh 12-year high against the euro on
Friday, overcoming disappointing U.S. inflation and consumer
sentiment data that would normally weaken it.

Positioning ahead of the Federal Reserve’s monetary policy
meeting next week was also seen as a potential reason for the
seemingly incongruous move up by the dollar, analysts said.

Mar 13, 2015

Trading volume of 2014 emerging market debt grew 6 percent to $5.922 trillion: EMTA

NEW YORK (Reuters) – The trading volume of emerging market debt grew 6 percent to $5.922 trillion in 2014 from the previous year, amid sharp drops in the sector’s currencies, interest rates and key commodity exports, a new survey showed on Friday.

Fourth-quarter volumes, however, declined 8 percent to $1.210 trillion from the same period a year earlier, EMTA, the association for the emerging markets debt trading industry, said in a statement.

Mar 13, 2015

Trading volume of 2014 emerging market debt grew 6 pct to $5.922 trln-EMTA

NEW YORK, March 13 (Reuters) – The trading volume of
emerging market debt grew 6 percent to $5.922 trillion in 2014
from the previous year, amid sharp drops in the sector’s
currencies, interest rates and key commodity exports, a new
survey showed on Friday.

Fourth-quarter volumes, however, declined 8 percent to
$1.210 trillion from the same period a year earlier, EMTA, the
association for the emerging markets debt trading industry, said
in a statement.

Mar 13, 2015

Dollar-buying momentum trumps weak U.S. data, euro off 1 percent

NEW YORK (Reuters) – Dollar-buying momentum lifted the greenback against its major rivals on Friday, overcoming disappointing U.S. inflation and consumer sentiment data that would normally weaken it.

Positioning ahead of the Federal Reserve’s monetary policy meeting next week was also seen as a potential reason for the seemingly incongruous move up by the dollar, analysts said.

    • 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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