Analysis: Currencies

High spending pushes Russia's budget deficit to $31.5 billion in February

Russia's budget deficit widened to 1.3% of gross domestic product in February, or 2.70 trillion roubles , the finance ministry said on Tuesday, as government spending remained elevated. ...

Dollar dithers as safety bid flows to the yen

The yen was investors' safe harbour of choice on Tuesday and it traded near five-month highs as fears about a tariff-driven slowdown in U.S. growth have rattled U.S. stocks and the dollar. ...

Swiss franc and yen benefit from turbulence

Investors continue to prefer safe-haven assets in an uncertain macroeconomic environment. This is illustrated by the continued rise of the yen and the Swiss franc against the greenback . ...

Pound heads for worst weekly run versus euro since 2023

The pound headed for its worst weekly performance against the euro in over two years on Friday, as a boost to European spending drove a broad rally in the single currency, while against the dollar,...

Euro zone economy grew faster than initially thought in Q4

The euro zone economy grew faster in the final quarter of 2024 than first estimated but nearly all of the revision is due to Ireland, where a large multinational sector often distorts data, figures...

Russian tanker group Sovcomflot says 2024 net profit down by 55%

Russia's leading tanker group Sovcomflot said on Friday that its net profit had dropped by 55% to $424 million in 2024. Sovcomflot's earnings before interest, tax, depreciation and...

Ukraine's economic outlook remains exceptionally uncertain, IMF says

Ukraine is continuing to make good progress in implementing structural reforms, but its economic outlook remains exceptionally uncertain given its ongoing war against Russia's invasion, the...

For markets, German fiscal splurge blurs ECB outlook

A tectonic shift in German fiscal policy has compounded uncertainty for traders trying to bet on how fast the European Central Bank will cut rates for the rest of the year, with a change to the bank's...

Legal basis matters for moves on Russian assets, Lagarde says

European Central Bank President Christine Lagarde said on Thursday she expected any decision by Western countries on what to do with currently-frozen Russian assets would take into account...

Italy's Leonardo, Turkey's Baykar to set up drone joint venture

Italy's Leonardo and Turkey's Baykar announced on Thursday they were setting up a joint venture to produce unmanned aerial vehicles , as defence companies seek to take advantage of rising military...

Sterling eases against the euro as eyes on Germany's debt overhaul

The pound weakened against the euro on Wednesday as traders piled into the common currency after Germany's plan for a massive infrastructure fund and an easing of debt rules to boost spending, though...

Russia's services sector expansion slows in February, PMI shows

Russia's services sector saw its slowest growth in six months in February, a business survey showed on Wednesday, as new order growth slowed. The S&P Global Purchasing Managers' Index...

Instant View: German parties agree debt brake reform, 500 billion-euro infrastructure fund

The conservatives and the Social Democrats agreed to seek a loosening of Germany's debt brake to allow higher defence spending, as well as proposing to create a 500 billion euro infrastructure fund,...

Investors say it's time to take Trump seriously as markets recoil

Markets no longer think Donald Trump is full of bluster and are moving quickly to anticipate a slowdown in U.S. and global growth as he raises a wall of tariffs around the world's biggest economy and...

New Trump tariffs take effect, EU also in crosshairs

A look at the day ahead in European and global markets from Kevin Buckland Europe wakes up to new U.S. tariffs on Canada, Mexico and China, bringing into starker relief Donald Trump's...

Traders place record bet on rising Japanese yen, eyeing further rate hikes

Speculators have mounted their biggest ever wager that the Japanese yen will continue to rise as they position for further Bank of Japan interest rate hikes, an abrupt reversal from huge bets against...

Russia's Aeroflot says it will pay 50% of adjusted net profit under new dividend policy

Russia's largest airline Aeroflot said on Monday that it had adjusted its dividend policy to pay out 50% of its adjusted net profit according to IFRS standards. Aeroflot did not pay...

Currencies: The euro withstands Trump's attacks well

The trade war with Europe has been declared. Until now, the old continent had escaped the wrath of the American president, but now he has set the record straight, announcing his intention to tax...

Sterling dips vs euro, rises against dollar, Ukraine in focus

The pound edged down against the euro and rose versus the U.S. dollar on Monday after European leaders agreed on Sunday to draw up a Ukraine peace plan to present to the United States. ...