LONDON, May 19 (Reuters) - The euro hit a 2-1/2 week high against the dollar on Monday in follow-through buying after the U.S. currency was undermined by soft U.S. consumer confidence data the previous session.
Traders said stop-loss levels were triggered, pushing the euro higher.
"Think they are hunting down stops above $1.56. More through $1.5610 and 20," said a London-based trader.
The euro rose as high as $1.5602 <EUR=> according to Reuters data, its highest since May 1, as Reuters/University of Michigan index of consumer confidence fell to its lowest level since 1980 the previous session keeping the greenback under pressure.
(Reporting by Toni Vorobyova and Simon Falush) ((simon.falush@reuters.com. +44 20 7542 7681) Reuters Messaging: simon.falush.reuters.com@reuters.net))
Keywords: MARKETS FOREX
LONDON, May 16 (Reuters) - London interbank offered rates
for three-month sterling funds nudged higher on Friday but the
premium over secured lending rates narrowed, reflecting some
easing in money market stress.
Below are the British Bankers Association's latest daily
fixing of the interbank cost of lending dollar, euro and
sterling funds in percentage terms. The changes from the
previous session are in brackets.
EURO STERLING DOLLAR
O/N 4.00625 (-0.00750) 5.09375 (-0.00375) 2.17500 (-0.08125)
1WK 4.19000 (-0.00813) 5.12125 (+0.00625) 2.39750 (+0.00125)
2WK 4.27000 (-0.00625) 5.24875 (+0.00000) 2.44625 (-0.00500)
1MO 4.37063 (-0.00625) 5.45813 (-0.00062) 2.47875 (-0.01875)
2M0 4.67500 (-0.00313) 5.69000 (+0.00687) 2.60813 (-0.02187)
3MO 4.85500 (-0.00250) 5.84875 (+0.00875) 2.69500 (-0.02375)
6MO 4.89625 (-0.00188) 5.90625 (+0.01000) 2.88625 (-0.05500)
1YR 4.98250 (-0.00250) 5.98500 (+0.01250) 3.08125 (-0.09500)
3MTH LIBOR/OIS SPREAD (BPs)
82.80000 (-0.75000) 81.97500 (-0.42500) 70.25000 (-2.57500)
For RICs to the above rates, go to <0#LIBORSUPERRICS>.
(Reporting by Emelia Sithole-Matarise; Editing by Gerrard
Raven)
((Reuters Messaging: emelia.sithole.reuters.com@reuters.net,
Email: emelia.sithole@reuters.com; +44 20 7542 6752))
Keywords: MARKETS LIBOR
LONDON, May 16 (Reuters) - The Icelandic crown jumped against the dollar and euro on Friday after Sweden's central bank said it and its Norwegian and Danish counterparts entered into a swap facility with Iceland's central bank.
By 0915 GMT, the euro was down 4.38 percent on the day at 114.98 crowns <EURISK=>, while the dollar was down 4.83 percent at 74.15 <ISK=>.
"At first glance ... this of course bound to be positive news. In and of itself it's not going to solve all the concerns. But it's a very important stepping stone in displaying that the central bank is willing and has the resources to provide support," Glitnir strategist Jon Bentsson said.
(Reporting by Veronica Brown and Toni Vorboyova)
((RM:veronica.brown.reuters.com@reuters.net; Tel: +44 207 542 6745))
LONDON, May 16 (Reuters) - Sterling rose to days highs versus the dollar on Friday with traders citing technical levels around $1.95 being taken out.
The pound hit an intra-day high of $1.9523 as traders said stops around Thursday's highs were breached above the $1.95 area.
"It's just stops going through $1.9500, $1.9510," said a trader in London."
By 0712 GMT the pound was up 0.2 percent at $1.9511 <GBP=> beyond the high on Thursday of $1.9501.
(Reporting by Toni Vorobyova and Simon Falush) ((simon.falush@reuters.com. +44 20 7542 7681) Reuters Messaging: simon.falush.reuters.com@reuters.net))
Keywords: MARKETS FOREX/STERLING
LONDON, May 15 (Reuters) - The euro wiped earlier gains versus the dollar on Thursday after European Central Bank President Jean-Claude Trichet warned that second-quarter growth in the single currency zone would be "less flattering."
By 1138 GMT, the euro had erased earlier gains made after robust first quarter German and euro zone GDP data to trade flat on the day at $1.5479 <EUR=>.
"Despite the strong German data, the overall outlook for euro zone growth in the coming quarters suggests a slower period," said David Page, economist at Investec.
"It's also a reminder of the some of the downside risks to inflation," he added.
(Reporting by Naomi Tajitsu and Veronica Brown)
((RM:veronica.brown.reuters.com@reuters.net; Tel: +44 207 542 6745))
Keywords: MARKETS FOREX/EURO
Next: Libor sterling, euro rates up, spreads widen slightly