26 Oct '11, 11pm

Volatile trade on currency markets amid EU summit

NEW YORK: Trade was volatile on currency markets on Wednesday with the euro ending the day marginally up against the dollar as EU leaders tried to thrash out a deal to save the eurozone. "Investors remained on tenterhooks," according to analysts at Travelex, amid strong fluctuations which saw the euro rise to nearly $1.40 - a near three-month high - at one point during the day. Traders waited to see if European leaders would be able to substantially boost a bailout fund for struggling countries, convince banks to shoulder bigger losses from Greek bonds and force banks to keep more cash in reserve. "The risk of an over-hyped, under-delivered package has increased recently, suggesting the market reaction to Europe's so-called comprehensive plan may be limited," Travelex said. The euro was up slightly, reaching $1.3908 at 2100 GMT, from $1.3904 late Tuesday as the dollar rose...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

Tweets

Asian shares mixed ahead of key Europe summit: HONG KONG: Asian shares were mixed in early trade on ... #realestate

Asian shares mixed ahead of key Europe summit: ...

channelnewsasia.com 25 Oct '11, 2am

HONG KONG: Asian shares were mixed in early trade on Tuesday with investors taking a breather from the previous day's rall...

Oil higher in Asian trade

channelnewsasia.com 31 Oct '11, 2am

SINGAPORE: Crude prices turned lower in Asian trade Monday as the market went into profit-taking mode on the back of the s...