Berlusconi's vote gains hit euro; yen rebounds

The strong election showing in Italy of former premier Silvio Berlusconi's party battered the euro Monday, amid worries a new coalition government could weaken Rome's commitment to reforms.

The euro rose in early trade amid the first exit polls from the two-day election, which suggested the center-left was on its way to a firm victory.

But later, data showed Berlusconi's party, and another rightist party, were neck-and-neck with rivals in the Senate race, suggesting it could end up part of a fractious coalition that could roll back Italy's deficit-cutting efforts.

At 2200 GMT, the euro was at $1.3065, down from $1.3189, after having risen to $1.3316 early in the day as European markets read the early poll results as keeping Berlusconi out of power.

Beyond Italy's election results, "the single currency remains poised to face additional headwinds over the near-term as the fundamental developments coming out of Europe point to a deepening recession," said David Song of DailyFX.

But commitment to the dollar was hanging on the testimony to Congress on Tuesday by Federal Reserve Chairman Ben Bernanke, with hopes he will clarify the Fed's direction amid some clear differences among policy-makers over how long to keep in place policies aimed at holding interest rates down.

Reports that the pro-stimulus Haruhiko Kuroda, currently head of the Asian Development Bank, would be nominated as Bank of Japan governor weakened the Japanese currency in early trade, with the dollar buying more than 94 yen.

But without official backup for those reports, the yen snapped back, the dollar dropping to 91.92 yen.

The euro also fell, to 120.12 yen from 123.18 late Friday.

"Mr. Kuroda's appointment would no doubt turn the BOJ policy to a much more accommodative stance," said Boris Schlossberg of BK Asset management.

"But the rally quickly fizzled... as there was no official confirmation from the government and traders took quick profits on the run-up."

The British pound held steady near where it dropped following Friday's sovereign downgrade by Moody's, which stripped London of its coveted AAA rating.

That sent the pound down to $1.5131, and on Monday it slipped beneath the $1.51 line before pulling back to trade at $1.5162 at 2200 GMT.

The dollar meanwhile rose to 0.9318 Swiss francs, compared to 0.9290 francs on Friday.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • Markets Right Now: Banks lead US stocks higher on rate hopes Associated Press - 17 minutes ago

    The latest on developments in global financial markets (all times local): 11:45 a.m. Banks are leading stocks higher at midday as investors hope for higher interest rates. Wells Fargo, the nation's largest ... … More »

  • Oil down nearly 2 percent on surging OPEC output, strong dollar
    Oil down nearly 2 percent on surging OPEC output, strong dollar Reuters - 28 minutes ago

    Oil prices fell nearly 2 percent on Monday, snapping two consecutive days of gains, on caution over galloping Middle East crude output and a stronger dollar boosted by speculation of a U.S. rate hike by the year-end. Iraq, which has exported more … More »

  • U.S. assets gain, European shares dip on rising Fed rate hike bets
    U.S. assets gain, European shares dip on rising Fed rate hike bets Reuters - 30 minutes ago

    U.S. stocks rose on Monday, helped by gains in financial shares after comments from top Federal Reserve officials on Friday bolstered expectations for an interest rate hike from the U.S. central bank this year, while European shares dipped and the … More »

  • 'IS suicide bomber' kills 71 army recruits in Yemen
    'IS suicide bomber' kills 71 army recruits in Yemen AFP News - 40 minutes ago

    An Islamic State group militant rammed his explosives-laden car into an army recruiting centre in Aden Monday, killing 71 people in the deadliest jihadist attack on the Yemeni city in over a year. … More »

  • Liz Weston: 5 money myths you probably believe
    Liz Weston: 5 money myths you probably believe Associated Press - 1 hour 12 minutes ago

    Managing money can be complicated, and myths are often born from people's struggles to make it simpler. But simplistic solutions can cost you instead of saving you money. If you believe any of these five ... … More »

  • BOJ Needs Massive Move to Shock & Awe, $2 Trillion Investor Says Bloomberg - 1 hour 22 minutes ago

    “It is how much they do, and whether they can create that kind of shock and awe at this point in the cycle,” said Mark Haefele, global chief investment officer at UBS Wealth Management, in a Bloomberg Television interview, on Monday. “They could … More »

  • Grain lower, livestock mixed Associated Press - 1 hour 36 minutes ago

    Grain futures were lower Monday in early trading on the Chicago Board of Trade. Wheat for Sept. delivery was 10.50 cents lower at $3.7260 a bushel; Sept. corn was 2.25 cents lower at $3.14 bushel; Sept. ... … More »

  • Singapore's GIC buys stake in Vietnam's bank AFP News - 1 hour 38 minutes ago

    Singapore sovereign wealth fund GIC will buy a 7.7 percent stake in Vietnam's biggest bank, both companies said in a joint statement on Monday. GIC signed a memorandum of agreement to buy 305.8 million new shares of Vietcombank, the fund's first … More »

  • Wall St rises as hawkish Fed boosts financial stocks
    Wall St rises as hawkish Fed boosts financial stocks Reuters - 1 hour 46 minutes ago

    Yellen, addressing a gathering of global central bankers on Friday, said the central bank was close to meeting its goals of maximum employment and stable prices, while describing consumer spending as "solid". Yellen gave little indication of when … More »

  • Foreign experts in Egypt to probe Russian airliner crash AFP - 2 hours 1 minute ago

    Russian and German experts arrived in Cairo Monday to inspect the wreckage of a Metrojet plane downed over Sinai, hoping to pinpoint how it came apart, the aviation ministry said. The Islamic State group ... … More »

  • Jualo receives additional ‘multi-million US Dollar’ in their Series A round
    Jualo receives additional ‘multi-million US Dollar’ in their Series A round e27 - 2 hours 5 minutes ago

    In June, the e-classifieds platform announced a Series A round led by NSI Ventures Last June, e-classifieds platform Jualo announced that it has received a “multi-million US Dollar” Series A funding led by NSI Ventures. Today, the Jakarta-based … More »

  • US stocks higher amid focus on possible Fed rate rise AFP - 2 hours 7 minutes ago

    Wall Street stocks were slightly higher Monday as traders focused on the US July jobs report coming later this week which could, if strong, support an early rate rise by the Federal Reserve. Fed Chair ... … More »

  • Grenade attack on home of Kosovo TV chief over border deal
    Grenade attack on home of Kosovo TV chief over border deal AFP News - 2 hours 17 minutes ago

    A shadowy activist group in Kosovo claimed responsibility Monday for an attack on the home of Kosovo's public broadcast chief, in protest over a controversial border deal. "An explosive device was thrown into the backyard" of Mentor Shala, general … More »

  • Brussels crime lab attacked to 'destroy evidence'
    Brussels crime lab attacked to 'destroy evidence' AFP News - 2 hours 36 minutes ago

    Attackers rammed a car through the gates of Belgium's national crime laboratory on Monday in Brussels and then started a fire in what officials said may have been an attempt to destroy evidence. The incident comes as Belgium remains on high alert … More »

  • Aeroflot flies back into black AFP - 2 hours 41 minutes ago

    Russia's flagship carrier Aeroflot said Monday it had piloted a return to profit after reining in its costs and enjoyed an ascent in passenger numbers among its company airlines. The majority state-controlled ... … More »

  • Exclusive - German trade group slashes exports forecast as Brexit hit looms
    Exclusive - German trade group slashes exports forecast as Brexit hit looms Reuters - 3 hours ago

    Germany's BGA trade association slashed its 2016 forecast for export growth, its head said on Monday, predicting sales abroad by Europe's biggest economy would later stagnate as the delayed impact of Brexit hit home. Global demand for German goods … More »

  • Cyber threat grows for bitcoin exchanges
    Cyber threat grows for bitcoin exchanges Reuters - 3 hours ago

    When hackers penetrated a secure authentication system at a bitcoin exchange called Bitfinex earlier this month, they stole about $70 million worth of the virtual currency. The latest survey of 46 securities exchanges released three years ago by … More »

  • Greek economy grows in second quarter but strong rebound elusive
    Greek economy grows in second quarter but strong rebound elusive 4 hours ago

    Greece's economy grew modestly in the second quarter but weak demand and scant investment mean a strong rebound after years of recession remains elusive a year after the country nearly crashed out of the euro. Rating agencies Moody's and S&P are … More »

  • Global from Day One co-invests in New Zealand firm’s US$5M Series A round
    Global from Day One co-invests in New Zealand firm’s US$5M Series A round 4 hours ago

    Global from Day One is a cross-border technology fund with the majority of capital to be invested in New Zealand and Taiwanese startups Spotlight Reporting, a Wellington-based cloud software company, has secured US$5 million in Series A funding from … More »

  • New suspected MH370 debris found in Mozambique
    New suspected MH370 debris found in Mozambique AFP News - 5 hours ago

    A South African hotelier said Monday he had picked up a piece of aircraft wreckage off the Mozambican coast in the latest possible find of debris from the missing MH370 flight. Mozambique's aviation authorities in Maputo said they had been informed … More »

  • Unbiased New Launch Review – Lake Grande
    Unbiased New Launch Review – Lake Grande Propwise.sg - 5 hours ago

    By KK Tong (guest contributor) 23 July 2016 was the official launch date of Lake Grande, a 99-year leasehold development (lease starting from 9 June 2015) in Jurong West. On the launch weekend, 436 units out of a total of 710 units were sold. The … More »

  • Australia's richest woman considers bid for country's largest ranch - source Reuters - 6 hours ago

    Australia's richest woman Gina Rinehart is partnering with Chinese developer Shanghai CRED to bid for S. Kidman & Co, the country's largest private land holding, a source close to the sales process said on Monday. Rinehart's participation in a bid … More »

  • iPhone spyware spotlights Israel's secretive surveillance industry
    iPhone spyware spotlights Israel's secretive surveillance industry AFP News - 6 hours ago

    The discovery of sophisticated spyware to infiltrate and remotely take control of iPhones without leaving a trace has put a spotlight on Israel's secretive surveillance industry, considered among the world's most advanced. Apple rushed out a … More »

  • China Stock Traders Feel Heat With 774 Probes in Two Months (3) Bloomberg - 6 hours ago

    Liu Shiyu, who was appointed chairman of the China Securities Regulatory Commission in February, has emphasized the need for a tough stance on market excesses. The moves come amid signs China’s policy makers are also looking to cool gains in the … More »

  • SE Asia Stocks-Fall as Fed rate hike signals get louder Reuters - 6 hours ago

    By Aparajita Saxena Aug 29 (Reuters) - Most Southeast Asian stock markets closed lower on Monday after comments from U.S. Federal Reserve Chair Janet Yellen hinting at an interest rate hike weighed on ... … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.124-0.005-3.88%
    N21.SI
    0.735-0.020-2.65%
    G13.SI
    0.128+0.014+12.28%
    RE4.SI
    0.3550.0000.00%
    E5H.SI
    4.12-0.10-2.37%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.355+0.115+47.92%
    BAZ.SI
    0.151+0.024+18.90%
    D79.SI
    0.23+0.03+15.00%
    AWI.SI
    0.475+0.060+14.46%
    588.SI
    0.128+0.014+12.28%
    RE4.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.205-0.105-33.87%
    BCZ.SI
    0.25-0.10-28.57%
    BKX.SI
    0.13-0.05-27.78%
    AYL.SI
    0.165-0.055-25.00%
    BKZ.SI
    0.745-0.130-14.86%
    564.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3599+0.0017+0.13%
    USDSGD=X
    1.51960.000.00%
    EURSGD=X
    1.7784-0.0025-0.14%
    GBPSGD=X
    75.0820+0.40+0.54%
    SGDJPY=X
    5.7005-0.0042-0.07%
    SGDHKD=X
    2.9755+0.0092+0.31%
    SGDMYR=X
    9,753.2324+5.0439+0.05%
    SGDIDR=X
    4.9096+0.0034+0.07%
    SGDCNY=X
    1.0292+0.0029+0.28%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,326.90+1.00+0.08%
    GCZ16.CMX
    18.75+0.10+0.53%
    SIU16.CMX
    96.84+1.04+1.09%
    ^XAU
    2.080.00-0.05%
    HGU16.CMX
    46.85-0.79-1.66%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.19-0.05
    ^FVX
    1.59-0.05
    ^TNX
    2.24-0.06
    ^TYX