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Search resuls for: "Chris Weston"


5 mentions found


☆ Dollar shrugs off suspected Japan intervention; pound eyes UK politics
  + stars: | 2022-10-24 | by ( Amanda Cooper | ) www.reuters.com   time to read: +4 min
Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. Yen overnight volatility surged to its highest since Sept. 21, the day before the BOJ stepped in to prop up the currency for the first time since 1998. Sterling see-sawed on news former prime minister Boris Johnson had dropped out of the Tory leadership contest, and was last up 0.1% at $1.1319, off an overnight high above $1.14. Johnson said he had withdrawn from Monday's contest to replace Liz Truss, who was forced to resign as prime minister after launching a fiscal plan that unleashed turmoil in UK markets. Former Chancellor Rishi Sunak has emerged as the clear frontrunner to become Britain's next prime minister.
☆ Asian shares lower, yields rise on aggressive rate hike jitters
  + stars: | 2022-10-21 | by ( Ankur Banerjee | ) www.reuters.com   time to read: +3 min
SINGAPORE, Oct 21 (Reuters) - Asian shares tracked Wall Street lower on Friday while Treasury yields scaled 14-year highs as the prospect of aggressive interest rate hikes from the Federal Reserve and recession risks soured investor sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.55% but above the two-and-a-half year low it touched on Thursday. Australia's resources-heavy share index (.AXJO) lost 0.74%, while Japan's Nikkei (.N225) opened 0.38% lower. U.S. benchmark 10-year Treasury yields to as much as 4.234%, its highest level since June 2008. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ankur Banerjee; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.
☆ Sterling crumbles to record low, dollar soars on UK fiscal angst
  + stars: | 2022-09-26 | by ( Kevin Buckland | ) www.reuters.com   time to read: +3 min
Register now for FREE unlimited access to Reuters.com RegisterWoman holds British pound banknotes in this illustration taken May 30, 2022. The British pound's searing drop helped the safe-haven U.S. dollar to a new two-decade peak against a basket of major peers. Fellow commodity currency the Canadian dollar reached a fresh trough at C$1.3625 per greenback, its weakest since July 2020. China's offshore yuan slid to a new low of 7.1630 per dollar, its weakest since May 2020. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kevin Buckland Editing by Shri Navaratnam and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.
☆ Sterling plunges to all-time low as fiscal plan spurs investor exodus
  + stars: | 2022-09-26 | by ( Kevin Buckland | ) www.reuters.com   time to read: +3 min
Sterling tumbled as low as $1.0327, an all-time nadir, and last traded 3.34% weaker at $1.0490. A former top Japanese currency official said Monday that policymakers likely won't try to defend a certain level, such as the 145 mark, but only conduct any further operations to smooth volatility. read moreThe dollar index was 0.76% higher at 114, and earlier reached 114.58 for the first time since May 2002. Fellow commodity currency the Canadian dollar reached a fresh trough at C$1.3625 per greenback, its weakest since July 2020. China's offshore yuan slid to a new low of 7.1630 per dollar, its weakest level since May 2020.
☆ Sterling plunges to all-time low in scathing appraisal of fiscal plan
  + stars: | 2022-09-26 | by ( Kevin Buckland | ) www.reuters.com   time to read: +3 min
REUTERS/Dado Ruvic/Illustration/TOKYO, Sept 26 (Reuters) - Sterling tumbled nearly 5% to an all-time low on Monday as investors ran for the exits after the new government's fiscal plan threatened to stretch Britain's finances to their limits. Register now for FREE unlimited access to Reuters.com RegisterSterling was last down 2.7% at $1.0560. In total, the plans will require an extra 72 billion pounds of government borrowing over the next six months alone. "In this environment, you either need to see much higher growth - which isn't happening at the moment - or you need to see significantly higher bond yields to incentivise capital inflows. To get bond yields up to those levels, you need to see the Bank of England coming out and doing an emergency hike."
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