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Jul 31, 2012

Euro climbs, but gains seen limited before ECB

LONDON, July 31 (Reuters) – The euro rose against the dollar
on Tuesday on month-end demand, but stayed below three-week
highs on doubts the European Central Bank can meet market
expectations of bold steps to combat the debt crisis.

Expectations that the ECB may lower interest rates in coming
months saw the euro hit a record low against the higher-yielding
Australian dollar. The Aussie was also buoyed by comments from
Chinese premier Wen Jiabao that China would fine-tune policy to
support economic growth.

Jul 31, 2012

Euro steady, investors nervous before ECB meeting

LONDON (Reuters) – The euro was subdued against the dollar on Tuesday, trading below recent three-week highs on growing doubts the European Central Bank can meet market expectations of bold steps to combat the euro zone debt crisis.

The euro hit a record low against the growth-linked Australian dollar, with higher-yielding currencies retaining gains on expectations that both the ECB and the U.S. Federal Reserve will nonetheless ease policy to support faltering growth.

Jul 30, 2012

Sterling down vs dollar as market awaits policymakers

LONDON, July 30 (Reuters) – Sterling lost ground against the
dollar on Monday, in line with a broadly weaker euro, as poor UK
data coupled with investor unease over whether the European
Central Bank will me e t market expectations to support the euro
zone weighed.

The euro zone is the UK’s biggest trading partner and
investors are hoping the ECB will announce bold measures when it
meets this week to stem the euro zone debt crisis. If the ECB
meets expectations, it could boost risk appetite and sterling,
but if it fails to deliver, assets which have a robust
relationship with stocks could suffer.

Jul 30, 2012

Sterling eases against dollar, but outperforms euro

LONDON, July 30 (Reuters) – Sterling eased against the
dollar on Monday, in line with a broadly weaker euro as
investors anticipated European Central Bank measures to prop up
the faltering euro zone and also looked to Thursday’s Bank of
England meeting.

The pound slipped by 0.3 percent against the dollar
to $1.5696, retreating from a five-week high of $1.5768 hit on
Friday, which marked the end of a two-day, 1.6 percent rise.

Jul 30, 2012

Sterling eases against dollar as euro slips

LONDON, July 30 (Reuters) – Sterling eased against the
dollar on Monday, in line with a broadly weaker euro, as
investors awaited details on European Central Bank measures to
rescue the faltering euro zone and looked forward to Thursday’s
Bank of England meeting.

The pound slipped by 0.3 percent against the dollar
to $1.5699, retreating from a five-week high of $1.5768 hit on
Friday, which marked the end of a two-day, 1.6 percent rise.

Jul 30, 2012

Sterling eases against dollar as euro slips

LONDON, July 30 (Reuters) – Sterling eased against the
dollar on Monday, in line with a broadly weaker euro, as
investors awaited details on European Central Bank measures to
rescue the faltering euro zone and looked forward to Thursday’s
Bank of England meeting.

The pound slipped by 0.3 percent against the dollar
to $1.5699, retreating from a five-week high of $1.5768 hit on
Friday, which marked the end of a two-day, 1.6 percent rise.

Jul 27, 2012

Euro’s bounce fizzles, U.S. GDP awaited

LONDON, July 27 (Reuters) – The euro fell on Friday,
retreating from a two-week high against the dollar, as investors
sold into its recent rally on fresh doubts about whether the
European Central Bank would take bold measures to tackle the
sovereign debt crisis.

A pledge by ECB President Mario Draghi on Thursday to do
whatever it takes within the bank’s mandate to preserve the
euro, had propelled the common currency to a two-week high of
$1.2330.

Jul 27, 2012

Euro takes breather after Draghi sparks short-covering

LONDON (Reuters) – The euro fell on Friday, retreating from a two-week high against the dollar, as investors sold into its recent rally on fresh doubts about whether the European Central Bank would take bold measures to tackle the sovereign debt crisis.

A pledge by ECB President Mario Draghi on Thursday to do whatever it takes within the bank’s mandate to preserve the euro, had propelled the common currency to a two-week high of $1.2330.

Jul 26, 2012

Euro surges against dollar on Draghi pledge

LONDON, July 26 (Reuters) – The euro jumped against the
dollar on Thursday, reversing earlier losses, after European
Central Bank chief Mario Draghi said the bank would do whatever
it takes to preserve the single currency.

The euro rose 1 percent to a one-week high of
$1.2288, taking it well above a low of $1.21178 touched earlier
in the session.

Jul 25, 2012

Euro up on ESM comments but more weakness seen

LONDON (Reuters) – The euro rallied broadly on Wednesday, recovering from a two-year low against the dollar after a European Central Bank policymaker said he could see grounds for giving the euro zone bailout fund a banking license.

The comments from Ewald Nowotny prompted a flurry of short-covering as the euro jumped higher, with some investors who had earlier bet against the single currency being squeezed out of those positions.

    • About Michael

      "Michael Szabo is an environmental markets correspondent based in London, UK. His focus is on carbon emissions trading, but also looks at renewable energy and climate change policy and science. He also manages the Global Carbon Forum."
      Joined Reuters:
      June 2005
      Languages:
      English, French
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