July 27 (Reuters) – Sterling extended gains against the dollar on Tuesday, rising to a five-month high, as investors tentatively stepped into risk-taking trades. The pound rose as high as $1.5530 GBP=D4, its highest since late February. It was last at $1.5518, up 0.2 percent on the day. (Reporting by London forex team)
Euro dips on report Spain savings banks fail test
July 24, 2010 By Leave a Comment
July 23 (Reuters) – The euro dipped to the day’s low against the dollar on Friday after a newspaper report said several of Spain’s 18 savings banks have failed tests to see how strong they would be if economic circumstances were more adverse. [ID:nLDE66M041]
The euro dipped to as low as $1.2864 EUR= on trading platform EBS, down 0.2 percent on the day.
(Reporting by Masayuki Kitano)
Euro adds to broad gains, hits 2-mth high vs dollar
July 10, 2010 By Leave a Comment
July 9 (Reuters) – The euro hit a two-month high against the dollar and rose broadly on Friday as improving risk demand prompted European banks to pick up the currency.
The euro EUR= climbed as high as $1.2723 according to electronic trading platform EBS. London traders cited demand from a Swiss bank from around $1.2680 as helping to push the single currency higher.
It rose broadly, climbing to 112.69 yen EURJPY= and 83.84 pence against sterling EURGBP=D4, its highest versus both currencies since June 21. (Reporting by Naomi Tajitsu)
S.Africa’s rand firmer vs dlr, volumes to increase
July 7, 2010 By Leave a Comment
JOHANNESBURG, July 6 (Reuters) – South Africa’s rand firmed slightly against the dollar on Tuesday in a market seeking direction from global trading patterns, with little news on the domestic front to drive the currency.
At 0641 GMT, the rand ZAR=D3 traded up 0.43 percent at 7.72 to the greenback after ending Monday’s session at 7.7530.
Traders were expecting business to pick up after a quiet Monday, when U.S. markets were closed for Independence Day.
“Markets did very little (yesterday), including dollar/rand. If you look at the action overnight, it was very thin,” a currency dealer in Johannesburg said.
“Everyone’s back today but we need to get a bit of momentum going and see where the flow is. It seems towards 7.76 there seem to be some pretty good offers, and to the lower 7.70s, good bids.”
Government bonds ticked up marginally, pulling yields a bit lower. The yield on the benchmark 2015 ZAR157= dipped 1.5 basis points to 7.905 percent, and that for the 2036 bond ZAR209= bond was down one basis point at 8.905 percent.
The JSE stock exchange’s blue-chip blue chip Top-40 September futures contract ALSIc1 was up 0.67 percent ahead of the 0700 GMT start of trade, after ending weaker on Monday.
(Reporting by Stella Mapenzauswa; Editing by John Stonestreet)
Sterling hits day’s low after weak UK services PMI
July 6, 2010 By Leave a Comment
July 5 (Reuters) – Sterling slipped to the day’s low against the dollar and the euro on Monday after a weak reading of the UK services sector underlined fragility in the country’s economic recovery.
The UK CIPS/Markit services PMI headline activity index fell for the third time in four months to 54.4 in June from 55.4 in May. That was weaker than the consensus forecast and the lowest level since August 2009. [ID:nSLA2IE685]
Sterling GBP=D4 hit the day’s low of $1.5160 after the figures were announced, compared with around $1.5170 beforehand.
The euro EURGBP=D4 edged up to a session high of 82.73 pence from 82.64 pence.
(Reporting by Naomi Tajitsu)
Indonesia c.bank says sees rupiah 9,100-9,200 in 2010
June 26, 2010 By Leave a Comment
June 25 (Reuters) – Indonesia’s central bank expects the rupiah to average between 9,100 per dollar and 9,200 per dollar this year, Darmin Nasution, senior deputy governor said on Friday.
(Reporting by Adriana Nina Kusuma; Writing by Fitri Wulandari; Editing by Neil Fullick)
Rolex Watches: Melrose Jewelers Launches Its New Customer Loyalty Program, MJ Dollars
June 25, 2010 By Leave a Comment
SAN FRANCISCO, CA, Jun 24 (MARKET WIRE) —
Melrose Jewelers (MelroseJewelers.com), USA’s #1 online Rolex watch
retailer, today announced a new program to reward customers with a
discount on their next purchase. The program automatically awards
customers 3% cash back in “MJ Dollars” good for all future purchases from
Melrose Jewelers.
How it works: Once a customer purchases a product from the Melrose
Jewelers website, he or she will automatically receive 3% cash back in MJ
Dollars. It is important to note that MJ Dollars are as good as real
currency when making a purchase from Melrose Jewelers. For example, if a
customer purchases a Men’s Champagne String Dial Rolex Day Date President
for $9,225, he or she would then receive $277 in MJ Dollars good towards
his or her next Rolex watch purchase from Melrose Jewelers. To clarify,
one MJ Dollar is the equivalent of one US dollar, so customers can treat
the MJ Dollars stored in their account on MelroseJewelers.com as if they
were real currency.
“We instituted the MJ Dollars program because we really wanted to show
our appreciation for loyal customers,” explains Vanessa Puzio of Melrose
Jewelers. “What better way can we give thanks to our customers,”
continues Puzio, “than give them a significant amount off their next
Rolex watch purchase.”
In addition to the MJ Dollars Rewards Program, Melrose Jewelers strives
to set the standard in quality customer service. To this end, every
luxury watch purchased from Melrose Jewelers comes with a comprehensive
2-year warranty, a Lifetime Authenticity Guarantee, a full authentication
and appraisal by the Associated International Gemological Laboratory, and
a 3-day inspection period so that customers can feel as comfortable as
possible with their purchase. As the #1 online used Rolex watch retailer
in the world, Melrose Jewelers believes that quality customer service
should be expected when buying Rolex watches.
About Melrose Jewelers
Melrose Jewelers is the nation’s leading online retailer of Rolex wrist
watches including mens watches and ladies luxury watches and its
associates have, collectively, over 220 years of experience in importing,
restoring, and retailing Rolex and other luxury watches. Melrose Jewelers
was founded with one simple premise: Buying a Rolex or other luxury watch
shouldn’t be mysterious or complicated. Similar to the innovative yet
simple business models of Progressive Insurance, CarMax, or Blue Nile,
Melrose Jewelers provides customers with low, no-haggle pricing, luxury
wrist watches that are either new and unworn or pre owned and restored to
original factory specifications both inside and outside, and a
comprehensive 2-year warranty. Melrose Jewelers also employs a staff of
top university-educated Trained Experts that provide customer service
that extends from your initial sales call until years after you’ve
received your purchase. Melrose Jewelers is a proud member of the
Jeweler’s Vigilance Committee, the Manufacturers and Jewelers Association
of America, the International Watch & Jewelry Guild, the National
Association of Watch Collectors, and the California Sheriff’s
Association. Melrose Jewelers uses only Conflict-Free Diamonds and those
imported through the Kimberley Process as signed into act by U.S.
Congress in 2003. Melrose Jewelers is not an authorized agent or
affiliated with Rolex USA, Rolex S.A., Rolex International, Breitling, or
Patek Philippe luxury watches. Rolex Day Date, Rolex President, Rolex GMT
Master, Rolex Daytona, Rolex Oyster Perpetual Datejust, Rolex
PearlMaster, Rolex Masterpiece, Rolex Super President, Rolex Submariner,
Rolex Yacht-Master, Rolex Explorer and Rolex Sea Dweller are all
trademarks of Rolex S.A. Melrose Jewelers’ watches contain custom,
aftermarket diamonds which will void the warranty of new Rolex watches.
Melrose Jewelers warranties its watches directly and Rolex S.A. has no
obligation to warranty any watches sold by Melrose Jewelers.
Melrose Jewelers also hosts the Melrose Jewelers (MJ) Rolex Watch Blog.
The MJ Rolex Watch Blog is the world’s largest independent forum website
about Rolex events and Rolex and other luxury watches in pop culture.
With over 300 user-posted articles and new articles and commentary
updated daily, the Melrose Jewelers Rolex watch blog contains articles
about Rolex watches owned and popularized by Barack Obama, Condoleezza
Rice, Warren Buffett, Colt McCoy, Steve Jobs, Elle Macpherson, Cristiano
Ronaldo, Sienna Miller, Sean Penn, Courtney Cox, Andy Roddick, Sam
Bradford, LeBron James, Tara Reid, Danica Patrick, Matthew McConaughey,
Steven Wynn, Calvin Klein, Jamie Lynn Sigler, Eva Longoria Parker, Tokio
Hotel, Tobey Maguire, Michael Dell, Ashton Kutcher, the Jonas Brothers,
Michael Jackson, Arnold Palmer, Tony Soprano, Lindsay Lohan, Eddie
Murphy, Tom Selleck, Jennifer Garner, Donald Trump, Skepta, Jennifer
Lopez, Lance Armstrong, John Mayer, Cameron Diaz, Justin Timberlake, Brad
Pitt, Drew Barrymore, Rafael Nadal, Roger Federer, Adam Lambert, Matt
Lauer, Sophie Marceau, Tim Tebow, Jay-Z, Zara Phillips, O.J. Simpson,
Madonna, Ana Ivanovic, Jennifer Aniston, Paris Hilton, Orlando Bloom,
Tupac Shakur, Cuba Gooding Jr, Lily Allen, & Wiley. Blog postings on the
MJ Rolex Watch Blog are submitted by independent Rolex enthusiasts and
not by Melrose Jewelers.
Contact:
Vanessa Puzio
323-650-2311
Copyright 2010, Market Wire, All rights reserved.
Yuan slips after state bank selling blocks advance
June 23, 2010 By Leave a Comment
SHANGHAI, June 22 (Reuters) – The Chinese yuan slipped on Tuesday as big state-owned banks heavily bought dollars, a move that suggests the central bank has adopted a new strategy to control the pace of yuan gains.
The yuan jumped initially after the People’s Bank of China set the mid-point start to trade at a surprisingly strong 6.7980 CNY=SAEC, little changed from Monday’s close and catching market players off guard who had thought it would try to nudge the currency lower after the previous day’s surge.
The heavy dollar buying quickly drove the yuan well off a low of 6.7900 — the lowest since the 2005 revaluation — and up as high as 6.8229 on the day, a drop of 0.37 percent. The yuan last traded at 6.8189 CNY=CFXS.
On Monday, the currency posted its biggest one-day rise since the revaluation, rising nearly half a percent and almost touching the upper it of its daily trading band on either side of the mid-point.
Some traders believe the buying by state-owned banks was on behalf of the PBOC to avoid direct market intervention, as it had often done in the post-revaluation appreciation phase and de facto dollar peg of the past two years.
By letting state-owned banks buy dollars, the PBOC is effectively limiting the market’s ability to short dollar/yuan — especially because banks are not allowed to hold short positions overnight in the spot currency market.
“It appears a new strategy,” said a senior dealer at a European bank in Shanghai. “The central bank needn’t intervene in the market, but it can still keep the pace of yuan appreciation under control via a control of supply and demand.”
Because the state-owned banks were scooping up dollars at a wide variety of levels, it suggested that they were not trying to defend the yuan at a certain level, traders said.
But since the peg to the dollar was ditched over the weekend, the PBOC appears to be trying to foster much more two-way trade within the daily trading band, seeking to get banks and companies used greater volatility and hedging currency risks.
During the 2005-2008 managed float against a trade-weighted currency basket and subsequent peg to the dollar, the PBOC often squashed intraday volatility via direct intervention, guidance through the mid-point and dollar purchases by state-owned banks.
Now it appears to be backing away from direct intervention unless the extremes of the daily trading band are tested.
The PBOC has made clear that it would not allow the yuan to appreciate sharply in its statements over the weekend announcing the latest reforms of the yuan, ruling out a one-off revaluation. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Full coverage [ID:nCHINATAKE] PDF on yuan: r.reuters.com/pys23m Yuan microsite: china.thomsonreuters.com/yuan/ Yuan graphics: r.reuters.com/byq23m Insider TV
-- Yuan to rise before G20 link.reuters.com/jes92m
-- Yuan shows confidence link.reuters.com/hyc33m
-- Some see delay tactic link.reuters.com/xad33m ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
BASKET
Despite the announced intention of controlling the pace of yuan appreciation against the dollar, the PBOC showed it was backing its words with deeds by allowing the yuan to rise against European currencies on Tuesday.
The PBOC set the yuan’s mid-point higher against the euro EURCNY=SAEC, at 8.3816, and against sterling GBPCNY=SAEC after the currencies weakened overnight. That set the tone for the yuan to trade higher against the euro EURCNY=CFXS at 8.3764 at midday on Tuesday from a close of 8.4325 the previous day.
The yuan can rise up to 3 percent against currencies besides the dollar.
“The question is how far the yuan can go,” said a senior dealer at a North American bank in Shanghai. “We believe the central bank must have some limits, which may gradually become clear over time after the G20 summit.”
Offshore dollar/yuan forwards rose back up after initial falls that had implied more yuan appreciation, buoyed by the dollar/yuan mid-point setting.
Some players in the NDF market have turned cautious about shorting dollar/yuan, worried that this week’s yuan move was done primarily to appease critics before the G20 summit late this week, and later moves may be more subdued.
Three-month dollar-yuan non-deliverable forwards (NDFs) CNY3MNDFOR= were quoted at 6.7380, implying a yuan rise of 0.89 percent after they fell to a low of 6.7080 in early trade.
One-year NDFs CNY1YNDFOR= rose back to 6.6300 after hitting an initial low of 6.5970, trimming implied appreciation to 2.53 percent from 3.05 percent the previous day. (Editing by Eric Burroughs & Jan Dahinten)
Factbox: Forecasts for yuan after China drops dollar peg
June 21, 2010 By Leave a Comment
(Reuters) – Following are forecasts by bankers and strategists on the level of expected yuan appreciation after China ditched its peg to the U.S. dollar.
S.Korean won rises 1.6 pct after FX curbs
June 14, 2010 By Leave a Comment
June 14 (Reuters) – The South Korean won rose as much as 1.6 percent against the dollar early on Monday, with traders relieved after the government unveiled long-anticipated restrictions on derivatives largely in line with expectations.
The won KRW= KRW=KFTC rose to as high as 1,226.2 per dollar from Friday’s domestic close of 1,246.1.
Short-end non-deliverable won forwards KRWNDFOR= were also trading more than 1 percent higher than their previous closing levels against the dollar. (Reporting by Yoo Choonsik; Editing by Jonathan Hopfner)
Mexico’s peso weakens sharply after U.S. payrolls
June 5, 2010 By Leave a Comment
June 4 (Reuters) – The Mexican peso weakened sharply on Friday after U.S. non-farm payrolls in May showed a sharp slowdown in private hiring, casting doubt on the strength of the recovery in the U.S. labor market.
The peso MXN= MEX01 hit a session low, losing 0.88 percent to 12.89 per U.S. dollar. (Reporting by Michael O’Boyle; Editing by Padraic Cassidy)
Dollar falls versus yen after US payrolls data
June 5, 2010 By Leave a Comment
June 4 (Reuters) – The dollar fell versus the Japanese yen on Friday after a government report showed U.S. non-farm payrolls grew at a lower than expected rate in May. For details, see [ID:nOAT004640]
Currencies
The dollar fell 0.8 percent to hit a session low of 91.93 yen JPY=, according to Reuters data. It traded at 92.68 prior to the report.
The euro extended losses and was last trading down more than 1 percent at a session low of $1.2019 EUR=, according to Reuters data. It traded at $1.2064 before the release. (Reporting by Vivianne Rodrigues; Editing by Theodore d’Afflisio)
ECB says had no bids in 7-day dollar tender
June 3, 2010 By Leave a Comment
June 2 (Reuters) – The European Central Bank received no bids for its latest offer of seven-day U.S. dollar funds on Wednesday.
The ECB reintroduced dollar lending last month as part of its response to the widening debt crisis, but banks have shown little appetite for funds.
For details, please see Reuters information page ECB27. (Reporting by Sakari Suoninen)
Euro falls to 4-year low versus dollar
June 2, 2010 By Leave a Comment
June 1 (Reuters) – The euro fell to a 4-year low versus the dollar on Tuesday, as fears the euro zone debt crisis may spread to its banking system hit sentiment and as stop-losses were targeted.
The euro EUR= fell to $1.2116, its lowest level since April 2006. Traders said stop-losses from hedge funds were targeted under the previous low at $1.2143.
Technical analysts also highlighted the break below key support at $1.2135, the 50 percent retracement of the 2000-2008 rally in the single currency.
David Hasselhoff pays ex-wife $3.25mn in exchange for marital house
May 18, 2010 By Leave a Comment
Melbourne, May 18(ANI): Baywatch star David Hasselhoff has paid 325,000 dollars to ex wife Pamela Bach in hard cash to take ownership of their marital home.
According to TMZ.com, he is severing all ties with his ex-wife and actress Bach, reports the Daily Telegraph.
His attorney, Mel Goldsman, filed documents in Los Angeles County Superior Court stating that Bach gave up their 3.25-million-dollar property in Los Angeles in exchange for Hoff”s compensation payment in cash.
The two divorced in 2006 over irreconcilable differences but Bach accused Hoff of violent behavior later.
On June 15, 2007, Hoff was awarded custody of their daughters – Hayley, 17, and Taylor Ann, 20. (ANI)
When a passer-by mistook Sir Ian McKellen for a tramp
May 7, 2010 By Leave a Comment
London, May 7 (ANI): A passer-by mistook Sir Ian McKellen for a tramp and gave him a dollar.
The Lord of The Rings star, whose latest venture is ‘Waiting for Godot’, was taking a break from a dress rehearsal, when a kind passer-by took pity on him.
“I was crouched by the stage door of the Comedy Theatre, getting some air, my bowler hat at my feet.
Seeing an unkempt old man down on his luck, a passer-by said: “Need some help, brother?’ and put 1-dollar in my hat.”
“I hope the audiences will be as generous,” he laughed.
“The coin is now lodged between two drawing pins above my dressing room mirror. It’s going to be my lucky talisman for the tour,” The Daily Express quoted Sir Ian as saying. (ANI)
Woman, 52, charged over ‘$100K shoplifting spree’!
April 27, 2010 By Leave a Comment
Melbourne, April 27 (ANI): A 52-year-old woman has been charged after she allegedly indulged in a 100,000-dollar shoplifting spree.
She reportedly stole items from Westfield Tuggerah.
Security guards approached her after she was seen acting suspiciously.
Police allege she ran from the shopping centre dropping personal belongings when she was asked to show the contents of her bags.
Guards later recovered a set of car keys that led police to search a house at Tumbi Umbi at 3.35am, reports The Daily Telegraph.
Inspector Paul Johnson explained that the raid uncovered clothing, ladies dresses, perfume, bicycles and other retail goods.
The woman was charged with a number of theft offences. (ANI)
Bookies see Europe stocks up after EU deal on Greece
April 13, 2010 By Leave a Comment
PARIS, April 12 (Reuters) – Financial bookmakers expected to see the leading European benchmark indexes rally on Monday, extending the previous session’s sharp gains, after Euro zone finance ministers approved an aid plan for debt-stricken Greece.
Stocks | European Markets | Global Markets
Financial spreadbetters expected Britain’s FTSE 100 .FTSE to open 21 to 24 points higher, or as much as 0.4 percent, Germany’s DAX .GDAXI to open 24 to 25 points higher, or as much as 0.4 percent, and France’s CAC-40 .FCHI to open 10 to 13 points higher, or as much as 0.3 percent.
Euro zone finance ministers approved a 30-billion-euro ($40 billion) emergency aid mechanism for debt-plagued Greece on Sunday, but stressed Athens had not requested the plan be activated yet. [ID:nLDE63A0BO]
The deal sent the euro leaping to its highest level in nearly a month on Monday, surging 1 percent on the dollar and yen.
(Reporting by Blaise Robinson)
S.Korean won rises to 19-month peak vs dollar
April 12, 2010 By Leave a Comment
SEOUL, April 12 (Reuters) – The South Korean won KRW=KFTC rose half a percent to a 19-month peak against the dollar early on Monday, lifted by the dollar’s weakness abroad and continued foreign purchases of local stocks.
The won rose to as high as 1,112.0 per dollar, its strongest since Sept. 12, 2008, from Friday’s domestic close of 1,118.2. (Reporting by Yoo Choonsik; Editing by Jonathan Hopfner)
India 3G bids inch up on second day of auction
April 12, 2010 By Leave a Comment
NEW DELHI, April 11 (Reuters) – Bids rose on the second day of India’s multi-billion dollar third-generation (3G) auction, with one provisional winning bid for national cover touching 40.85 billion rupees ($922 million), or about a 17 percent premium to the base price, government data showed. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Telecommuncations Services
For earlier stories on the auction, see [ID:SGE6380IE] and [ID:nSGE636084]
Details of second day bidding r.reuters.com/baj37j ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
A total of 10 rounds of bidding had been completed by Saturday, India’s Department of Telecommunications said on its website, without disclosing which company had bid how much.
The widely-watched auction started on Friday and the multiple-round bidding process is expected to take about two weeks to complete, officials have said.
On the first day, bids were at about a 12 percent premium to the base price of 35 billion rupees for all-India spectrum.
There is no bidding on Sunday. The auction resumes on Monday. ($1=44.3 rupees) (Reporting by Devidutta Tripathy)