Environmental Markets Correspondent/Communities Editor
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Jul 23, 2012

Sterling hits 3-1/2 year high against tumbling euro

LONDON, July 23 (Reuters) – Sterling climbed to a more than
3-1/2 year high against a tumbling euro on Monday as worries
over Spain and Greece’s debt problems drove investors to the
relatively safe haven of the UK currency.

Spain’s borrowing costs jumped to euro-era highs after media
reports that six more of the country’s regions could follow in
Valencia’s footsteps and seek central government aid.

Jul 23, 2012

Sterling hits 3-1/2 year high against tumbling euro

LONDON, July 23 (Reuters) – Sterling climbed to a more than
3-1/2 year high against a tumbling euro on Monday as worries
over Spain and Greece’s debt problems drove investors to the
relatively safe haven of the UK currency.

Spain’s borrowing costs jumped to euro-era highs after media
reports that six more of the country’s regions could follow in
Valencia’s footsteps and seek central government aid.

Jul 20, 2012

Euro falls broadly as Spain woes intensify

LONDON (Reuters) – A struggling euro hit a session low against the U.S. dollar and record lows against the Australian and Canadian dollars on Friday after Spain’s Valencia region said it will seek central government help to repay its debts.

The news intensified concerns that Spain, the euro zone’s fourth largest economy, may not be able to avoid a full-blown international bailout, with 10-year yields trading above the 7 percent level that is seen as unsustainable.

Jul 19, 2012

Euro firms versus dollar, Australian dollar shines

LONDON (Reuters) – The euro edged up against the dollar on Thursday but fell to a record low against the Australian dollar, with gains in equities buoying demand for riskier and higher-yielding currencies.

Spain earlier sold 3 billion euros in debt at a cost of higher borrowing costs than previous auctions, reminding investors of the funding and economic problems facing Spain.

Jul 18, 2012

Euro slides as Merkel comments spook market

LONDON (Reuters) – The euro fell broadly on Wednesday after a media report that German Chancellor Angela Merkel said she could not be sure the European project would work spooked investors already cautious about the outlook for the common currency.

Although Merkel went on to say she was optimistic the project would succeed – a reiteration of her usual line on the topic – euro sold off broadly.

Jul 17, 2012

Dollar on the backfoot ahead of Bernanke testimony

LONDON, July 17 (Reuters) – The dollar slipped against the
euro and most other major currencies on Tuesday before testimony
from U.S. Federal Reserve Chairman Ben Bernanke, who could hint
at more monetary stimulus after recent disappointing U.S. data.

With investors positioning for more quantitative easing by
the Fed, analysts saw a risk that the dollar may bounce or
assets such as stocks and growth-linked currencies could drop if
the Fed chief stops short of signalling more stimulus.

Jul 17, 2012

Dollar struggles before Bernanke testimony

LONDON (Reuters) – The dollar slipped against the euro and most other major currencies on Tuesday before testimony from U.S. Federal Reserve Chairman Ben Bernanke, who could hint at more monetary stimulus after recent disappointing U.S. data.

With investors positioning for more quantitative easing by the Fed, analysts saw a risk that the dollar may bounce or assets such as stocks and growth-linked currencies could drop if the Fed chief stops short of signaling more stimulus.

Jul 16, 2012

Euro broadly weaker, market awaits Fed’s Bernanke

LONDON, July 16 (Reuters) – The euro weakened on Monday with
investors concerned about how long it could take to mobilise
bailout funds for troubled euro zone states though falls against
the dollar were tempered before testimony this week by U.S.
Federal Reserve chief Ben Bernanke.

The euro fell to a 3-1/2 year low against sterling, a
six-week low against the yen and hovered close to a two-year low
against the dollar.

Jul 13, 2012

Sterling hits 3-1/2 high against sliding euro

LONDON, July 13 (Reuters) – Sterling rose to a 3-1/2 high
against a broadly lower euro on Friday after Moody’s downgraded
Italy and investors sold Europe’s common currency in favour of
perceived safer alternatives.

The euro fell as low as 78.63 pence against the pound
, its weakest since November 2008. It was last at
78.74 pence, down 0.4 percent on the day.

Jul 13, 2012

Sterling stays buoyant vs euro after Italy downgrade

LONDON, July 13 (Reuters) – Sterling held near a 3-1/2 year
high against a weaker euro on Friday after Moody’s cut Italy’s
credit rating, sending the country’s borrowing costs higher and
putting further pressure on its struggling economy.

The euro edged down 0.1 percent against the
pound to 79.02 pence, in sight of a 78.71 pence trough hit on
Wednesday, its weakest since late 2008.

    • 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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