Sunday, May 30, 2010

Bloomberg News

May 28 (Bloomberg) -- The euro erased gains against the dollar, headed for a sixth monthly loss, amid concern the sovereign-debt crisis will hamper the region’s economic recovery.



The 16-nation euro declined against 12 of its 16 most- traded counterparts after CNBC, citing an unidentified official, reported that the German government plans a permanent naked shorting ban for certain euro-zone securities. Sweden’s krona rose the most in a week against the shared currency as a report showed the economy grew in the first quarter more than analysts forecast, spurring speculation the central bank will raise interest rates in July. The dollar fell against the yen after a report showed U.S. business activity expanded at a slower pace in May.



“The euro is very sensitive to headlines right now,” said Amelia Bourdeau, a currency strategist in Stamford, Connecticut, at UBS AG. “The eurozone has a lot of issues it has to work out and it’s harder for them because of the coordination required at this point.”

Posted by at 8:09 AM

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Sunday, May 30, 2010

Bloomberg News

May 28 (Bloomberg) -- The euro erased gains against the dollar, headed for a sixth monthly loss, amid concern the sovereign-debt crisis will hamper the region’s economic recovery.



The 16-nation euro declined against 12 of its 16 most- traded counterparts after CNBC, citing an unidentified official, reported that the German government plans a permanent naked shorting ban for certain euro-zone securities. Sweden’s krona rose the most in a week against the shared currency as a report showed the economy grew in the first quarter more than analysts forecast, spurring speculation the central bank will raise interest rates in July. The dollar fell against the yen after a report showed U.S. business activity expanded at a slower pace in May.



“The euro is very sensitive to headlines right now,” said Amelia Bourdeau, a currency strategist in Stamford, Connecticut, at UBS AG. “The eurozone has a lot of issues it has to work out and it’s harder for them because of the coordination required at this point.”

Posted by at 8:09 AM

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)

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