European Hedge Funds Correspondent
Laurence's Feed
Dec 11, 2013

Yen gains for second day as stocks fall

LONDON (Reuters) – The yen rose for a second day on Wednesday as global stock markets fell and as investors locked in profits from the dollar and euro’s strong rallies this year against the Japanese currency.

The euro fell marginally against the dollar, after its recent gains driven by tighter liquidity conditions and banks’ moves to shore up their capital positions.

Dec 10, 2013

Sterling hits two-year high vs dollar after Carney comments

LONDON, Dec 10 (Reuters) – Sterling hit a two-year high
against the dollar on Tuesday as investors took upbeat comments
from the Bank of England and strong house prices as signs that
interest rates could rise sooner than previously thought.

The pound rose to $1.6468 in Asian trading, levels
it last hit in August 2011. It later fell back to trade up
marginally against the dollar at $1.6429.

Dec 10, 2013

Sterling hits two-year high after Carney comments, housing survey

LONDON, Dec 10 (Reuters) – Sterling hit a two-year high
against the dollar on Tuesday as investors took upbeat comments
from Bank of England Governor Mark Carney and a strong house
price survey as signs that interest rates could rise earlier
than previously thought.

The pound rose to $1.6468 in Asian trading, levels
it last hit in August 2011. It later fell back to trade up
marginally against the dollar at $1.6435.

Dec 9, 2013

Sterling rises on hopes U.S. taper put off to 2014

LONDON, Dec 9 (Reuters) – Sterling rose against the dollar
on Monday as investors bet that positive U.S. jobs data would
not be enough to persuade the Federal Reserve to start cutting
back its huge bond-buying programme this month.

Extending Friday’s gains, which were helped by strong house
price data, the pound rose 0.2 percent to $1.6382,
edging back towards the $1.6443 it hit last week – its highest
since August 2011.

Dec 8, 2013

Global FX volumes drop in October – BIS survey

LONDON, Dec 8 (Reuters) – Daily turnover in the foreign
exchange market fell 6 percent to $5 trillion a day in October,
as trading in the yen and the euro declined, an analysis by the
Bank for International Settlements showed on Sunday.

Volumes hit a high of $5.3 trillion in April, led by a surge
in yen trading as investors positioned for the Bank of Japan to
introduce aggressive monetary stimulus to help revive the
economy. That resulted in the yen weakening sharply against most
major currencies.

Dec 5, 2013

Euro edges up after ECB decision, market awaits inflation forecasts, Draghi

LONDON, Dec 5 (Reuters) – The euro edged up on Thursday
after the European Central Bank kept interest rates on hold,
with traders on the lookout for the bank’s inflation forecasts
and any signs it may take more action to prevent deflation.

Investors had expected no change in rates after the ECB’s
surprise cut to a record low of 0.25 percent last month, and
will now scour the bank’s projections that are expected to point
to inflation remaining below target into 2015.

Dec 5, 2013

Euro at five-week highs before ECB, U.S. data

LONDON (Reuters) – The euro rose to trade near a five-week high against the dollar on Thursday as investors positioned for the European Central Bank’s to keep interest rates unchanged with rising German yields lending it support.

While ECB policymakers have been at pains to keep their options open for more action to stimulate the economy – and effectively pump more euros into the market – the strength of German opposition seems to have pushed any action off into next year.

Dec 4, 2013

Dollar pares gains before key data, euro down vs Swiss franc

LONDON, Dec 4 (Reuters) – The dollar pared earlier gains on
Wednesday as investors positioned themselves for U.S. data later
this week that could be key indicators of when the Federal
Reserve will slow its huge bond-buying programme.

The euro fell to a two-month low against the Swiss franc
after data showed an uneven recovery in the currency
bloc. Hedge funds sold the euro ahead of next week’s Swiss
National Bank meeting, at which it is likely to reiterate its
commitment to the euro/Swiss peg of 1.20 francs.

Dec 4, 2013

Dollar gains, Aussie at low, euro pegged back by PMI surveys

LONDON (Reuters) – The dollar rose against the yen and the euro on Wednesday as expectations grew that key economic data from the United States this week could increase pressure on the Federal Reserve to exit its bond-buying program.

The euro fell 0.1 against the dollar to $1.3580. It also pared gains against the yen after mixed euro zone service sector data, with activity in Italy and France contracting in November but expanding in Spain and Germany, highlighting the divergence in the bloc.

Dec 3, 2013

Dollar slips vs yen as profit-taking hits rally

LONDON (Reuters) – The yen recovered from early losses to trade higher against the dollar and euro on Tuesday, as investors took profits from a month-long rally and global equity markets declined, driving demand for the safe-haven currency.

The dollar was down 0.3 percent against the yen at 102.65 yen after reaching 103.38 yen in Asian trading. That was close to its 2013 high of 103.74 yen, a level dollar bulls have been targeting.