Gertrude's Feed
Jul 6, 2015

Euro slides, but off lows after Greek ‘No’ vote

NEW YORK (Reuters) – The euro tumbled across the board on Monday, but was off the lows of the day, after Greece voted to reject the conditions tied to the troubled country’s debt bailout deal.

The single euro zone currency dropped to a one-week low against the dollar below $1.10, and skidded to a six-week trough versus the yen immediately following the “No” outcome. Selling was also seen in other higher-yielding currencies such as the Australian dollar and emerging market currencies.

Jul 2, 2015

Analysis: Strong dollar knocks off $1 trillion from U.S. pension assets

NEW YORK (Reuters) – The surging dollar looks to have wiped out about $1 trillion in U.S. pension fund assets over a recent nine-month period, eroding much of the gains those funds earned investing in overseas stock markets.

While there has been increased demand for hedging exposure in foreign markets, many U.S. pension funds remain vulnerable to foreign exchange translation losses, currency managers said.

Jul 2, 2015

Strong dollar knocks off $1 trillion from U.S. pension assets

NEW YORK (Reuters) – The surging dollar looks to have wiped out about $1 trillion (711.32 billion pounds) in U.S. pension fund assets over a recent nine-month period, eroding much of the gains those funds earned investing in overseas stock markets.

While there has been increased demand for hedging exposure in foreign markets, many U.S. pension funds remain vulnerable to foreign exchange translation losses, currency managers said.

Jul 1, 2015

Investors hedging against Greece, but there’s no panic

NEW YORK (Reuters) – Global investors are hedged against a potential exit of Greece from the euro zone ahead of Sunday’s referendum, but they’re not betting on a huge fallout in financial markets even if there is a negative outcome.

Currency, bond, and equity investors have turned defensive, trimming exposure in the euro zone. They’re generally of the mindset, though, that a last-minute deal will be struck and it will be an opportunity to snap up euro zone assets again.

Jun 30, 2015

U.S. dollar’s share of reserves rises in first quarter; euro’s drops

NEW YORK/LONDON (Reuters) – The U.S. dollar’s share of foreign exchange reserves rose for a fourth straight quarter, while the euro’s hit a 13-year low, International Monetary Fund data showed on Tuesday.

The greenback’s share rose in the first quarter to 64.1 percent of the total allocated reserves, equivalent to $3.887 trillion, amid expectations that the U.S. Federal Reserve is likely to tighten monetary policy at least once this year. The dollar hit a 12-year high against a basket of currencies .DXY in mid-March.

Jun 30, 2015

U.S. dollar’s share of reserves rises in Q1; euro’s drops

NEW YORK/LONDON June 30 (Reuters) – The U.S. dollar’s share
of foreign exchange reserves rose for a fourth straight quarter,
while the euro’s hit a 13-year low, International Monetary Fund
data showed on Tuesday.

The greenback’s share rose in the first quarter to 64.1
percent of the total allocated reserves, equivalent to $3.887
trillion, amid expectations that the U.S. Federal Reserve is
likely to tighten monetary policy at least once this year. The
dollar hit a 12-year high against a basket of currencies
in mid-March.

Jun 24, 2015

Dollar inches lower after rally; focus on rate hike prospects

NEW YORK, June 24 (Reuters) – The dollar drifted lower on
Wednesday after hitting its highest in more than a week in the
previous session, while U.S. 10-year Treasury yields dipped as
investors’ focus slowly shifted from Greece to prospects for
higher U.S. interest rates.

A lack of progress on the Greek debt crisis stoked risk
aversion in the market, boosting the safe-haven yen against the
dollar, said Joe Manimbo, senior market analyst at Western Union
Business Solutions in Washington.

Jun 24, 2015

Dollar slips after rally; rate hike view in focus

NEW YORK (Reuters) – The dollar edged lower on Wednesday after hitting its highest in more than a week in the previous session, while U.S. 10-year Treasury yields dipped as investors’ focus slowly shifted from Greece to prospects for higher U.S. interest rates.

The outlook for the dollar remained upbeat despite Wednesday’s retreat. The U.S. currency has benefited overall from another round of generally positive data this week, which supported the view that interest rates in the world’s largest economy were likely to rise sooner than later.

Jun 12, 2015

Euro edges higher as Greece says close to debt deal

NEW YORK, June 12 (Reuters) – The euro inched higher against
the dollar on Friday as Greece said it was getting closer to a
deal on its debt, which could stave off default for the
cash-strapped country.

On Friday, a Greek government official said the country was
ready to submit counterproposals and is closer than ever to an
agreement with its creditors.

Jun 12, 2015

Euro gains as Greece says close to debt deal

NEW YORK, June 12 (Reuters) – The euro rebounded against the
dollar on Friday as Greece said it is getting closer to a deal
on its debt, which could stave off default for the cash-strapped
country.

On Friday, a Greek government official said the country is
ready to submit counter-proposals and is closer than ever to a
deal with its creditors.