NBS intervenes against strong currency, crown loses 23 hellers
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BRATISLAVA- The National Bank of Slovakia this afternoon intervened against the firming crown and at 3:15 p.m. as the unit reached a record Sk38.50/EUR, started to sell crowns and buy foreign currency, sending ...
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NATIONAL Australia Bank is testing the water for interest in its two Irish banks but is yet to commit to selling them. NAB chief executive John Stewart said yesterday that there had been several expressions
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BRUSSELS: Euro-zone finance ministers yesterday stepped up pressure on the US to show its strong dollar policy was more than just rhetoric even though they feared their calls were falling on deaf ears.
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The pound was on the backfoot against the euro as further evidence emerged of a slowdown in the housing market.
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Officials say the country will move away from peg of 8.28 yuan to the dollar amid US pressure. WASHINGTON  - Chinese officials reiterated that the country would move toward a flexible foreign exchange
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National Australia Bank Ltd., the nation&#39;s largest lender, will bear any losses arising from the theft of about 20 million pounds ($38.5 million) from its Northern Bank unit in Northern Ireland.
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Credit Suisse suspended a number of traders in connection with a $2.85 billion overvaluation of assets.
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The pound was down agaist all major currencies in early trading Tuesday.
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NEW YORK, NOVEMBER 22: The dollar slipped against the euro on Monday in thin trading after a weekend meeting of the Group of 20 finance ministers and central bankers in Berlin offered no concrete measures to stem the dollar&#39;s decline.
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ZURICH, Switzerland -- Credit Suisse suspended a number of traders in connection with a $2.85 billion overvaluation of assets.
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Sterling bulked up some by the end of the session. Earlier the pound had been on the backfoot after softer than expected inflation numbers for August cemented expectations that the Bank of England's rate-setting Monetary Policy Committee may not raise the cost of borrowing too much further from its current 4.75 percent.
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Finance ministers and central bank governors from the Group of Seven industrialized countries held off taking any concrete actions Saturday to alter the value of the dollar, the euro or other currencies.
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The pound was in focus today after Bank of England (BoE) governor Mervyn King defended the central bank&#39;s arms-length approach to the instability sweeping the world&#39;s financial markets weighed on the pound.
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The damage to exports caused by a stronger euro has been played down by a member of the European Central Bank&#39;s governing council in remarks highlighting the bank&#39;s limited concern about the currency&#39;s rise.
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"But I'm saying: look at what's going on"  The dollar hit a new low against the seemingly unstoppable euro Friday as the 13-nation currency broke through $1.41. The euro's ascension renewed calls from French President Nicolas Sarkozy for the European Central Bank to follow the Federal Reserve and cut interest rates, which would help keep French exports competitive.Despite the worries of some exporters _ European aircraft maker Airbus said if the euro keeps rising it may have to seek new cost savings _ ECB President Jean-Claude Trichet and German Chancellor Angela Merkel stood firm that the ECB must remain independent. Read more
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Sterling stabilised at lower levels against the euro, as well as falling against the dollar, as it remained on the backfoot after last week's weak data and dovish comments by the Bank of England's (BoE) Monetary Policy Committee (MPC) member Kate Barker.
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The pound was on the backfoot against the dollar as the US currency rebounded, with the falls in the wake of a woeful survey on services sector activity proving short-lived on the widely accepted view that the slowdown is not confined to the US.