European Hedge Funds Correspondent
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Jan 20, 2014

Euro lifts off two-month low vs dollar but ECB wariness weighs

LONDON, Jan 20 (Reuters) – The euro recovered slightly from
a two-month low against the dollar on Monday, helped by higher
short-term market interest rates, although speculation the
European Central Bank may step in capped gains.

After breaking through support at $1.3550 on Friday, the
euro fell in Asian trading on Monday to its lowest since Nov. 25
at $1.35080. It later recovered some ground, and was 0.1 percent
higher at $1.3560 in London trading.

Jan 20, 2014

Euro edges off two-month low vs. dollar, ECB talk weighs

LONDON (Reuters) – The euro recovered slightly from a two-month low against the dollar on Monday, helped by higher short-term market interest rates, although speculation the European Central Bank may step in limited its gains.

After breaking through support at $1.3550 on Friday, the euro fell in Asian trading on Monday, touching its lowest since November 25 at $1.35080. It later recovered some ground, and was 0.1 percent higher at $1.3550 early in London.

Jan 19, 2014

Hedge funds’ top five currency bets for 2014

LONDON (Reuters) – Hedge funds think 2014 could be the year their currency bets finally pay off, after getting burned last year on trades ranging from the Australian dollar to the greenback.

The influence of central banks and competition among nations to weaken their currencies to boost economic growth made 2013 a year to forget for many funds. The average macro currency fund was up just 0.42 percent in the 11 months to November, according to Hedge Fund Research.

Jan 16, 2014

Aussie dollar slumps to 3-1/2-year low after jobs data

LONDON (Reuters) – The Australian dollar tumbled to its lowest level since mid-2010 against a firmer U.S. dollar on Thursday, after a surprise fall in employment reawakened the possibility of another cut in interest rates.

The Aussie fell as low as $0.8777 in early trading, with trading volumes high, and was last 1.5 percent lower at $0.8803. Its next target to the downside will be the $0.8770 hit in August 2010, said one trader.

Jan 13, 2014

Dollar tumbles vs yen after jobs shock prompts stimulus rethink

LONDON, Jan 13 (Reuters) – The dollar tumbled to its lowest
in almost a month against the yen on Monday, as investors caught
out by Friday’s soft U.S. jobs data reassessed how quickly the
Federal Reserve might scale back its stimulus.

The dollar’s weakness also helped push the Australian dollar
to a one-month high and the New Zealand dollar to a
near-two-month high against the greenback.

Jan 13, 2014

Dollar tumbles vs. yen as U.S. jobs data weighs

LONDON (Reuters) – The dollar tumbled to its lowest in almost a month against the yen on Monday, as investors caught out by Friday’s soft U.S. jobs data reassessed how quickly the Federal Reserve might scale back its stimulus.

The dollar slid 0.8 percent to 103.30 yen, having fallen to 103.26 at one point, its lowest level since December 18. The greenback’s losses accelerated after it breached Friday’s intraday low of 103.83 yen.

Jan 10, 2014

Euro propped up by periphery, data hits pound and Nordics

LONDON (Reuters) – Demand for euro zone peripheral government bonds kept the euro away from a one-month low against the dollar on Friday before jobs data seen as crucial to the U.S. currency’s outlook.

A handful of other G10 currencies were pushed around by divergent economic data in early trade; the pound and the Norwegian crown suffered while the Swedish crown recovered a chunk of this week’s losses.

Jan 10, 2014

Euro edges higher on demand for peripheral bonds

LONDON, Jan 10 (Reuters) – Demand for euro zone peripheral
government bonds helped the euro extended its rebound from a
one-month low against the dollar on Friday, as investors looked
to U.S. jobs data for direction on the dollar.

The euro was last up marginally at $1.3611, having
fallen as low as $1.3548 on Thursday.

Jan 8, 2014

Trade data lifts U.S. dollar, Canadian dollar slides

LONDON (Reuters) – The dollar rose against the yen on Wednesday as upbeat U.S. trade data the previous day triggered renewed appetite for riskier assets among global investors.

The Canadian dollar, against which hedge funds have been betting, dropped versus the U.S. currency after activity by purchasing managers nosedived unexpectedly in December.

Jan 7, 2014

Dollar rebounds, gains limited by weak U.S. data

LONDON, Jan 7 (Reuters) – The dollar rebounded against the
euro and yen on Tuesday, although gains were limited by
disappointing U.S. data and another fall in global stocks.

It edged up 0.1 percent to about 104.36 yen after
having fallen 0.6 percent on Monday to sink as low as 103.91
yen, a low not seen since Dec. 23. It has pulled back from a
five-year peak of 105.45 yen set last week.