Steve Barrow News
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The pound declined for a fourth week against the euro as an improvement in German business confidence and speculation the Bank of England will boost stimulus sapped demand for the U.K. currency.
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The pound weakened for a fourth day against the dollar on speculation investors cut their holdings of the U.K. currency before the Bank of England presents its updated inflation forecasts tomorrow.
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The pound strengthened against the euro after a U.K. business lobby said company sentiment has improved, increasing speculation the economy will outperform that of the single-currency region.
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Investors should sell the New Zealand dollar against the yen and bet the currency will decline to 59.80, according toStandard Bank Plc.
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Standard Bank Plc advised investors to sell the New Zealand dollar against the U.S. dollar, estimating the so-called kiwi will weaken to 68.20 U.S. cents.
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Investors should buy the dollar against the yen, speculating the U.S. currency will appreciate to 83.40 yen, Standard Bank Plc said.
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Standard Bank Plc advised buying the euro against the yen and the Australian dollar, and also recommended purchasing the U.S. Dollar versus Norway’s krone.
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U.S. jobs data tomorrow may show an increase in payrolls, stemming the dollar’s declines, after the Federal Reserve indicated yesterday its asset purchases will depend on how the economy performs, Standard Bank Plc said.
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The dollar weakened against the euro and the yen slid versus most of its major peers as investors mulled whether Federal Reserve Chairman Ben S. Bernanke will announce further monetary stimulus for the economy tomorrow.
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The euro dropped versus most of its major counterparts on speculation a meeting of European finance ministers will struggle to bridge differences over conditions for expanding the region’s bailout fund.
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