Europe

Euro subdued on doubts over European Central bank bold steps

The euro was subdued against the dollar on Tuesday, trading below recent three week highs on growing doubts the European Central Bank can meet market expectations of bold steps to combat the euro zone debt crisis. The euro hit a record low against the growth-linked Australian dollar, with higher-yielding currencies retaining gains on expectations that both the ECB and
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A large decline in the euro currency value could save Spain

The declining value of the euro holds the key to the eurozone’s survival and could save Spain. The interest rate on Spanish government debt has soared above 7 per cent, reflecting its lack of progress in reducing its fiscal deficit and those of Val

Greece looks for a bridging loan whilst trying to find 11.7 billion euros of spending cuts

Greece’s coalition government is looking for a bridging loan to tide it over while it scrambles to find 11.7 billion euros of spending cuts to bring a derailed bailout plan ...

UK pound exchange rates falls after inflation eases to lowest level since 2009

In early European trade on Tuesday the UK pound’s exchange rate fell after a report showed that the UK inflation annual inflation unexpectedly eased in June to reach the lowest ...

UK sterling still volatile against major currencies after Greek election results

The UK released no major data on Friday and only one major piece of data was released from the US, UK sterling still had a volatile trading session due to ...

Swiss franc’s floor to the euro sees continued pressure and could break again

As the euro zone crisis grinds on, the pressure on the Swiss franc’s floor to the euro is intensifying whilst the Swiss National Bank continue to purchase foreign currency to ...

Danish krone exchange rate comes under huge safe haven pressure, could break

The head of Denmark’s central bank has warned that the Danish krone is coming under intense pressure from investors seeking a safe haven in Europe and betting that the krone’s ...

Syriza or New Democracy? Greece goes to the polls for re-run election

Syriza or New Democracy, that is the question as voting begins in Greece with millions going to the polls for a crucial re-run election which could determine the country’s future ...

Euro currency set for a further sell off if Syriza wins tomorrows Greek elections

The 17 nation euro currency could well start next Monday's trading session on a further downward spiral against majors including the US dollar and the yen and could even test ...

Greece can be free from it’s current recession with freedom from the EU and IMF

Greece under Syriza, who are poised to win the next June 17 election, see a country free from it’s current recession with no debt repayments, higher salaries and freedom from ...

Norway is well placed to face currency shocks according to bank Governor Olsen

Norway is well poised to face new currency shocks and challenges and doesn’t suffer the same economic problems as its trading partners, Norges Bank Governor Oystein Olsen said last week. His ...

Swedish krona exchange rate moves higher against the euro on growth report

The Swedish krona’s exchange rate moved higher against the euro last week, paring a third monthly decline, after a government report showing the economy returned to growth in the first ...

No bids for Ukrainian hryvnia bonds at auction for second time in 2012

Investors snubbed sales of local Ukrainian bonds for a second time this year, offering no bids on Thursday the finance ministry said when offering one, three, five and seven-year Ukrainian ...

Greece’s credit rating is downgraded again by Moody’s on euro zone exit concerns

Greece’s credit rating has been downgraded again by ratings agency Moody’s because there is an increased risk the country would exit the euro zone. Moody’s said it “has lowered its assessment ...

Romanian leu exchange rate falls to record low against the euro

The Romanian leu’s exchange rate fell to the weakest on record against the euro, sliding for a third day on speculation Greece may be on its way out of the ...

Icap readies a Greek drachma trading facility as banks prepare for euro exits

Icap, a London based currency broker, is ready to reintroduce a Greek drachma trading facility by installing a new panel on its electronic screens as UK banks make preparations for ...

DialAFlight warns holidaymakers to get rid of Greek euros ahead of possible Grexit

An online travel company DialAFlight has advised worried holidaymakers in the UK to get rid of their Greek euros in case the crisis hit country leaves the single currency, now ...

Banks on standby for a possible return of the Greek drachma

Some international banks never erased the Greek drachma from their systems after Greece adopted the euro in 2002 and would be ready at the flick of a switch if Greece’s ...

German politicians call for Greece to return to the Greek drachma

German politicians have called for Greece to leave the eurozone and return to the Greek Drachma, as the country fails to form a government following Sunday’s election in which mainstream ...

Risk of Greece leaving the euro zone goes up to 75 percent chance according to Citi

The risk of Greece leaving the euro zone has gone up to as much as 75 percent, according to economists at Citi, describing such an outcome as a “Grexit,” the ...

Greece should drop the euro currency according to Germany’s Ifo

Greece’s ability to recover competitive economic standing will be severely constrained if it continues to use the euro, and other indebted eurozone countries will likely face similar struggles, the head ...

Greek drachma returns as alternative loan repayment currency for the EIB

The EIB (European Investment Bank) was preparing for the break-up of the euro last night by allowing Greek companies to repay loans in its former currency, the Greek drachma. The ...

UK sterling foreign exchange rate hits a new 20 month high against troubled euro

UK sterling’s foreign exchange rate hit a new 20 month high against troubled euro currency in trading today, holding gains made last week on upbeat UK retail sales data, and ...

Turkish lira foreign exchange rate weakens as Central Bank provides liquidity

The Turkish lira’s foreign exchange rate weakened late last week as importers sought US dollars and the Turkish central bank provided lira liquidity through a cheap one week repo auction, ...

SNB president firmly committed to Swiss franc cap with the euro currency

SNB (Swiss National Bank) President Thomas Jordan on Saturday renewed a commitment to maintain a cap on the value of the Swiss franc, which has come under pressure recently as ...

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