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China reform plans could be stifled as economy cools

Twelve months ago, capital was still haemorrhaging out of China, draining the foreign currency reserves and dragging the renminbi down. Today, China’s markets seem becalmed. Gentle but sustained credit and monetary policy tightening has yielded the economic stability that the government needed ahead of the crucial 19th Party Congress in coming months. The real test, […]

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Euro rises above 92 pence and at a eight-year high versus pound

Europe’s single currency has hit its strongest level against sterling in eight years, reflecting the diverging economic outlook for the UK and the eurozone and its implications for their respective central banks’ policymaking. The euro rose above 92 pence on Wednesday on the back of a flurry of better than expected eurozone economic indicators, reaching […]

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Euro hits strongest level in eight years against sterling

The diverging economic outlook for the UK and the eurozone has driven the single currency to its strongest level in eight years against sterling. The euro has hit €1.0867 per pound on Wednesday on the back of a flurry of better than expected eurozone economic indicators, appreciating 0.2 per cent on the day to levels […]

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Asian markets mixed with company news driving trade

Wednesday 03:30 BST What you need to know Tokyo stocks climb as financials suffer in Sydney Hong Kong markets closed due to severe typhoon Crude prices pare Tuesday gains Hong Kong dollar hovers near decade low Overview Asia-Pacific equities were putting in a mixed performance as Hong Kong’s exchange called off morning trade on account […]

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New Zealand dollar dips as dollar gains on Asia currencies

Asia Pacific currencies were down against the dollar to varying degrees on Wednesday ahead of this week’s gathering of central bankers in Jackson Hole. The New Zealand dollar was the worst performer in the region, off as much as 0.7 per cent at $0.7232 after the New Zealand Treasury lowered its growth estimate for the […]

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Hong Kong dollar edges closer to decade low

The Hong Kong dollar was again flirting with a decade-low as it weakened against its US counterpart two weeks after the city’s de facto central bank moved to shore up the currency. The currency edged further into the weaker end of its tightly pegged trading range of between HK$7.75 and HK$7.85 against the US dollar, […]

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Dollar rebounds ahead of Jackson Hole meeting

The US dollar rebounded on Tuesday ahead of this week’s Jackson Hole symposium, with some investors eyeing the possibility of Federal Reserve chair Janet Yellen hinting at a steeper rate of monetary policy tightening despite scepticism from many analysts. The dollar index was 0.4 per cent firmer late morning in London, erasing losses from Monday, […]

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China’s cat-and-mouse game over capital outflows set to continue

At the end of last week, Beijing fired off more detailed instructions on sectors where direct overseas investment is prohibited, restricted or encouraged respectively, leaving no doubt that the government is determined that there will be no going back to the events of 2015 and 2016. At that time, the renminbi weakened sharply, capital outflows […]

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Dollar rallies ahead of Jackson Hole

The US dollar is rallying ahead of this week’s Jackson Hole meeting, with some investors eyeing the possibility of Federal Reserve chair Janet Yellen hinting at a steeper rate of monetary policy tightening despite scepticism from many analysts. At pixel time, the greenback is up 0.5 per cent against the pound at $1.2840, and is […]

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European markets buoyed by miners

European stock markets have opened up after a broadly cautious trading session on Monday, in which geopolitics and Thursday’s Jackson Hole gathering of central bankers weighed on sentiment. The FTSE 100 rose 0.7 per cent in Tuesday’s early trading, led higher by mining stocks after Chilean copper producer Antofagasta reported higher metal prices. The Stoxx […]

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