Environmental Markets Correspondent/Communities Editor
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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.

Jul 12, 2012

Sterling hits 5-week low vs dollar after U.S. jobs claims

LONDON, July 12 (Reuters) – Sterling slipped to a five-week
low against a broadly stronger dollar on Thursday after U.S.
jobless claims fell to their lowest in four years and Federal
Reserve minutes dampened expectations of further monetary easing
in the near future.

The pound dropped 0.6 percent to as low as $1.5393
- a level not seen since June 6 – after the U.S. jobs data
showed initial claims for state unemployment benefits fell more
than economists had expected.

Jul 12, 2012

Sterling falls versus dollar, near 3.5 year peak versus euro

LONDON (Reuters) – Sterling hit a five-week low against the dollar on Thursday after Federal Reserve minutes dampened expectations of further U.S. monetary easing in the near term, boosting broad demand for the greenback.

The pound also retreated slightly against the euro but held within sight of a 3-1/2 year high hit on Wednesday as concerns that policymakers were struggling to make progress in tackling the euro zone debt crisis weighed on the single currency.

Jul 11, 2012

Sterling at fresh 3.5 year high versus sinking euro

LONDON (Reuters) – Sterling hit a new 3-1/2 year high against the euro on Wednesday, bolstered by doubts about the currency bloc’s ability to activate bailout funds to protect its troubled debtor states.

The euro fell to 78.87 pence in early trade, the lowest level since November 2008, and is likely to stay under pressure with the bond yields of vulnerable economies such as Spain and Italy still at elevated levels.

Jul 10, 2012

Sterling hits fresh 3-1/2 yr high against weak euro

LONDON, July 10 (Reuters) – Sterling hit a fresh 3-1/2 year
high against the euro on Tuesday as market focus switched back
to the euro zone debt crisis, spurring the pound to recover from
an early dip caused by comments from the Bank of England
governor.

The euro dropped 0.4 percent to 79.005 pence,
hit by comments from Italy’s prime minister and ahead of a
German constitutional court ruling that could thwart the
deployment of the euro zone’s rescue fund.

    • 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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