Edition:
International

Iain Withers

UK court rejects subprime lender Amigo's rescue plan

May 25 2021

LONDON London's High Court has rejected a rescue plan from subprime lender Amigo that would have cut compensation payouts to customers for mis-selling loans, sending the company's shares plunging more than 50% on Tuesday.

UPDATE 3-UK court rejects subprime lender Amigo's rescue plan

May 25 2021

* Company considering its options, including appeal (Adds comments from judgment, analyst)

UPDATE 1-Dollar hangs near 4-month lows, bitcoin rebounds

May 24 2021

* Dollar down 0.2% for day, holds above Friday low * Euro gains 0.3%, continuing its gain on dollar * Bitcoin perks up after wild weekend * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Updates prices) By David Henry and Iain Withers NEW YORK/LONDON, May 24 The dollar languished near four-month lows against major currencies on Monday as bets on a robust global economic recovery continued to support currencies seen as riskier. The dollar index moved around the 90 mark, down 0.2% on the day in morning trading in New York, slightly above a four-month low on Friday of 89.646. Since the end of March, the greenback, seen as a safe-haven trade, has retreated steadily with optimism about the global economic recovery. But lately that move down seems to have slowed as traders begin to anticipate higher U.S. interest rates coming when the U.S. Federal Reserves reacts to signs of increasing inflation. "Markets have to start pricing in a slightly more hawkish Fed going forward," Win Thin, global head of currency strategy at Brown Brothers Harriman wrote on Monday morning. Data due on Friday, including U.S. personal consumption and inflation figures, could move the markets to anticipate a more hawkish tone from the next Fed policy meeting on June 15-16. But for now, Thin said, "the dollar is coming under some modest pressure as the week begins." Yields on benchmark 10-year U.S. Treasury notes were steady around 1.60% on Monday morning. Traders are also watching for progress on a new stimulus package in the United States, after the White House pared down its infrastructure bill to $1.7 trillion on Friday but failed to gain Senate Republican backing. Among the currencies gaining on the dollar was the euro, up 0.3% to $1.222 The single currency has gained around 4% on the greenback since March as Europe has moved to catch up with the United States in vaccinating its people and reviving its economy. Cryptocurrencies fought back on Monday, retaking ground lost during a bout of weekend selling that was fueled by further signs of a Chinese crackdown on the emerging sector. Bitcoin rebounded 9% to $37,729, but was still down after crashing in recent days, falling as much as 17% to $31,107 on Sunday. Bitcoin halved in value just weeks after April's record peak of $64,895, undermining the case for its mainstream acceptance. The catalyst for Sunday's slump was that cryptocurrency "miners," who mint cryptocurrencies by using powerful computers to solve complex math puzzles, were halting Chinese operations in the face of increasing scrutiny from authorities. Ether, the second-largest cryptocurrency, rose 16% to $2,435, about half of its high two weeks ago. ======================================================== Currency bid prices at 10:52AM (1452 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index 89.8330 90.0330 -0.21% -0.164% +90.1080 +89.7600 Euro/Dollar $1.2216 $1.2182 +0.28% -0.01% +$1.2230 +$1.2172 Dollar/Yen 108.7750 108.9600 -0.16% +5.28% +108.9900 +108.7000 Euro/Yen 132.87 132.70 +0.13% +4.69% +133.0400 +132.5300 Dollar/Swiss 0.8967 0.8979 -0.13% +1.36% +0.9002 +0.8958 Sterling/Dollar $1.4151 $1.4159 -0.06% +3.58% +$1.4171 +$1.4113 Dollar/Canadian 1.2065 1.2064 +0.02% -5.25% +1.2085 +1.2050 Aussie/Dollar $0.7746 $0.7730 +0.25% +0.73% +$0.7755 +$0.7706 Euro/Swiss 1.0955 1.0936 +0.17% +1.37% +1.0964 +1.0932 Euro/Sterling 0.8630 0.8605 +0.29% -3.44% +0.8649 +0.8603 NZ $0.7210 $0.7162 +0.68% +0.42% +$0.7217 +$0.7158 Dollar/Dollar Dollar/Norway 8.3440 8.3925 -0.58% -2.84% +8.3875 +8.3390 Euro/Norway 10.1947 10.2146 -0.19% -2.60% +10.2192 +10.1620 Dollar/Sweden 8.3172 8.3200 +0.27% +1.47% +8.3397 +8.3100 Euro/Sweden 10.1652 10.1380 +0.27% +0.88% +10.1724 +10.1317 (Reporting by David Henry in New York and Iain Withers in London; Editing by Will Dunham)

Dollar languishes near 3-month lows, bitcoin perks up

May 24 2021

NEW YORK/LONDON The dollar languished near four-month lows against major currencies on Monday as bets on a robust global economic recovery continued to support currencies seen as riskier.

FOREX-Dollar languishes near 3-month lows, bitcoin perks up

May 24 2021

* Dollar down 0.26% for day, holds above Friday low * Euro gains 0.34%, continuing its gain on dollar * Bitcoin perks up after wild weekend * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Adds new analyst comment, updates prices; previous LONDON) By David Henry and Iain Withers NEW YORK/LONDON, May 24 The dollar languished near four-month lows against major currencies on Monday as bets on a robust global economic recovery continued to support currencies seen as riskier. The dollar index moved around the 90 mark, down 0.26% on the day in morning trading in New York, slightly above a four-month low on Friday of 89.646. Since the end of March, the greenback, seen as a safe-haven trade, has retreated steadily with optimism about the global economic recovery. But lately that move down seems to have slowed as traders begin to anticipate higher U.S. interest rates coming when the U.S. Federal Reserves reacts to signs of increasing inflation. "Markets have to start pricing in a slightly more hawkish Fed going forward," Win Thin, global head of currency strategy at Brown Brothers Harriman wrote on Monday morning. Data due on Friday, including U.S. personal consumption and inflation figures, could move the markets to anticipate a more hawkish tone from the next Fed policy meeting on June 15-16. But for now, Thin said, "the dollar is coming under some modest pressure as the week begins." Yields on benchmark 10-year U.S. Treasury notes were steady around 1.61% on Monday morning. Traders are also watching for progress on a new stimulus package in the United States, after the White House pared down its infrastructure bill to $1.7 trillion on Friday but failed to gain Senate Republican backing. Among the currencies gaining on the dollar was the euro, up 0.34% to $1.222. The single currency has gained around 4% on the greenback since March as Europe has moved to catch up with the United States in vaccinating its people and reviving its economy. Cryptocurrencies fought back on Monday, retaking ground lost during a bout of weekend selling that was fueled by further signs of a Chinese crackdown on the emerging sector. Bitcoin rebounded 8% to $37,629, but was still down after crashing in recent days, falling as much as 17% to $31,107 on Sunday. Bitcoin halved in value just weeks after April's record peak of $64,895, undermining the case for its mainstream acceptance. The catalyst for Sunday's slump was that cryptocurrency "miners," who mint cryptocurrencies by using powerful computers to solve complex math puzzles, were halting Chinese operations in the face of increasing scrutiny from authorities. Ether, the second-largest cryptocurrency, rose 14% to $2,385, about half of its high two weeks ago. ======================================================== Currency bid prices at 10:00AM (1400 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index 89.7860 90.0330 -0.26% -0.217% +90.1080 +89.7970 Euro/Dollar $1.2223 $1.2182 +0.34% +0.05% +$1.2224 +$1.2172 Dollar/Yen 108.7750 108.9600 -0.17% +5.28% +108.9900 +108.7000 Euro/Yen 132.94 132.70 +0.18% +4.74% +133.0400 +132.5300 Dollar/Swiss 0.8959 0.8979 -0.19% +1.30% +0.9002 +0.8960 Sterling/Dollar $1.4162 $1.4159 +0.03% +3.67% +$1.4171 +$1.4113 Dollar/Canadian 1.2053 1.2064 -0.08% -5.34% +1.2085 +1.2052 Aussie/Dollar $0.7749 $0.7730 +0.27% +0.76% +$0.7751 +$0.7706 Euro/Swiss 1.0949 1.0936 +0.12% +1.31% +1.0964 +1.0932 Euro/Sterling 0.8630 0.8605 +0.29% -3.44% +0.8649 +0.8603 NZ $0.7207 $0.7162 +0.64% +0.38% +$0.7210 +$0.7158 Dollar/Dollar Dollar/Norway 8.3425 8.3925 -0.53% -2.78% +8.3875 +8.3390 Euro/Norway 10.1970 10.2146 -0.17% -2.58% +10.2192 +10.1620 Dollar/Sweden 8.3166 8.3200 +0.27% +1.47% +8.3397 +8.3111 Euro/Sweden 10.1655 10.1380 +0.27% +0.88% +10.1698 +10.1317 (Reporting by David Henry in New York and Iain Withers in London; Editing by Will Dunham)

FOREX-Dollar stuck near 3-month lows, bitcoin struggles

May 24 2021

* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Updates prices)

FOREX-Dollar stuck near 3-month lows, bitcoin struggles

May 24 2021

LONDON, May 24 The dollar was pinned near three-month lows against a basket of major currencies on Monday, as bets on a robust global economic recovery continued to support currencies seen as riskier.

UK lender Amigo's shares tumble as future in limbo

May 21 2021

LONDON (Reuters) -Shares in guarantor lender Amigo, which is awaiting a court decision on a rescue plan, fell as much as 50% after a temporary suspension of share trading was lifted on Friday.

UPDATE 2-UK lender Amigo's shares tumble as future in limbo

May 21 2021

LONDON, May 21 Shares in guarantor lender Amigo , which is awaiting a court decision on a rescue plan, fell as much as 50% after a temporary suspension of share trading was lifted on Friday.

Britain's Nationwide almost doubles profit as costs fall

May 21 2021

LONDON Nationwide Building Society nearly doubled annual profit after improving interest income and margins as it shaved costs, it said on Friday.

World News

Netanyahu out, Bennett in as Israel marks end of an era

JERUSALEM (Reuters) -Benjamin Netanyahu's record 12-year run as Israel's prime minister ended on Sunday with parliament approving a new "government of change" led by nationalist Naftali Bennett, an improbable scenario few Israelis once could have imagined.