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International

Joice Alves

The big rotation: European tech in biggest monthly drop in 13 years

9:53am EST

LONDON European technology stocks fell into bear territory on Friday and were on track for their biggest monthly drop since the 2008 global financial crisis amid worries the U.S. Federal Reserve will aggressively tighten its monetary policy.

CORRECTED-Europe's tech stocks set for biggest monthly drop in more than 13 years

3:40am EST

LONDON, Jan 28 European technology stocks fell on Friday and was on track for its biggest monthly drop since the 2008 global financial crisis as investors sold growth stocks in January amid concerns about an aggressive Federal Reserve tightening and mounting tensions in Ukraine.

Sterling falls below $1.34 on Fed rate plans and PM's troubles

Jan 27 2022

LONDON Sterling hit its lowest level against the U.S. dollar so far this year on Thursday as investors sold off riskier assets in response to the U.S. Federal Reserve saying it would probably raise interest rates in March.

UPDATE 1-Sterling falls below $1.34 on Fed rate plans and PM's troubles

Jan 27 2022

LONDON, Jan 27 Sterling hit its lowest level against the U.S. dollar so far this year on Thursday as investors sold off riskier assets in response to the U.S. Federal Reserve saying it would probably raise interest rates in March.

FACTBOX-Russia-exposed European stocks at risk if Ukraine tensions escalates

Jan 27 2022

LONDON, Jan 27 Russia-exposed European stocks could take a hit if Russia and the United States fail to de-escalate tensions over Ukraine and the stand-off has left investors monitoring shares most at risk from potential sanctions against Russia.

Sterling hits 2022 low vs dollar on Fed rate hike plans, PM troubles

Jan 27 2022

LONDON, Jan 27 Sterling hit the lowest level of 2022 versus the U.S. dollar on Thursday as investors sold off riskier assets in response to the U.S. Federal Reserve saying it will likely hike rates in March.

Sterling slips to fresh 3-week low amid Fed hike bets, Ukraine fears

Jan 25 2022

LONDON Sterling slid to a fresh three-week low versus the U.S. dollar on Tuesday as investors remained cautious on risk assets amid growing tensions in Ukraine and bets the Federal Reserve will hike rates.

UPDATE 1-Sterling slips to fresh 3-week low amid Fed hike bets, Ukraine fears

Jan 25 2022

* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv (Adds comments and chart; updates news, headline and rates)

Sterling steadies near 3-week low amid Fed hike bets, Ukraine fears

Jan 25 2022

* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv

FOREX-U.S. dollar slips, but outlook stays positive; sterling rises after UK data

Jan 19 2022

* Dollar cuts losses after U.S. housing starts data * Focus on Fed meeting next week * Sterling rises as UK inflation hits 30-year high * Euro supported after 10-year German Bunds briefly turn positive (Recasts, adds new comment, FX table, updates prices; adds byline, NEW YORK to dateline) By Gertrude Chavez-Dreyfuss and Joice Alves NEW YORK/LONDON, Jan 19 The dollar on Wednesday slid from one-week highs hit a day earlier, with U.S. Treasury yields retreating as well after hitting roughly two-year highs on 2-year and 10-year notes, but the greenback remains well-supported, as investors prepared for a widely expected interest rate increase in March. U.S. 10-year Treasury yields touched a new two-year high of 1.902% on Wednesday, but was last down 1 basis point at 1.8539%. But bond yields in other major economies rose as well, with the euro, sterling, the Canadian, Australian, and New Zealand dollars, among others, gaining versus the U.S. currency. Sterling, meanwhile, edged higher after data showed British inflation rose 5.4% in December, to its highest level in 30 years, raising rate hike expectations. Talks of a leadership challenge to Prime Minister Boris Johnson kept the pound in check. "Higher yields have gone global, spilling over and supporting currencies like the euro, sterling and Canadian dollar," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington. "The buck remains on sturdier ground though ahead of next week's Fed decision when the central bank could abruptly end QE (quantitative easing) and potentially ready the market for an aggressive rate hike in March," he added. The Fed will meet next week and will likely provide further clarity and details on the end of quantitative easing, which will likely be in March. The U.S. central bank could also signal it will raise interest rates in March as well right after ending QE. Fed funds futures have fully priced in a rate hike in March and four in all for 2022. In midmorning trading, the dollar index was down 0.1% at 95.574. The greenback trimmed losses after data showed U.S. homebuilding unexpectedly increased in December amid unseasonably mild weather. Housing starts rose 1.4% to a seasonally adjusted annual rate of 1.702 million units last month. The euro, the largest component in the dollar index, was up 0.1% at $1.1344, after the previous day's sharpest daily drop in a month. The single European currency was underpinned overall after Germany's 10-year bond yield rose above 0% for the first time since 2019 on Wednesday, marking a potential turning point for euro area debt characterised for years by negative yields. The German 10-year yield, considered a benchmark for the whole euro zone, rose as high as 0.025%, and was last up nearly 2 basis points on the day. Sterling rose 0.8% versus the dollar to $1.3837 after the red-hot UK inflation data. The euro, meanwhile, slipped 0.1% versus the pound to 83.17 pence, after earlier falling to its lowest since February 2020. The pound was also supported by the surge in UK yields, with the two-year gilt yield rising to 0.958%, its highest level since March 2018. The Australian dollar rose 0.6% to US$0.7233. ======================================================== Currency bid prices at 9:49AM (1449 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index 95.5360 95.7140 -0.17% -0.133% +95.7920 +95.4970 Euro/Dollar $1.1346 $1.1327 +0.17% -0.20% +$1.1354 +$1.1319 Dollar/Yen 114.3450 114.5900 -0.20% -0.66% +114.7850 +114.2050 Euro/Yen 129.74 129.79 -0.04% -0.45% +129.9800 +129.4000 Dollar/Swiss 0.9160 0.9175 -0.17% +0.41% +0.9177 +0.9145 Sterling/Dollar $1.3642 $1.3598 +0.34% +0.89% +$1.3648 +$1.3588 Dollar/Canadian 1.2494 1.2513 -0.14% -1.17% +1.2524 +1.2450 Aussie/Dollar $0.7233 $0.7186 +0.67% -0.47% +$0.7238 +$0.7177 Euro/Swiss 1.0393 1.0391 +0.02% +0.23% +1.0403 +1.0375 Euro/Sterling 0.8315 0.8328 -0.16% -1.01% +0.8342 +0.8314 NZ $0.6805 $0.6765 +0.62% -0.55% +$0.6811 +$0.6764 Dollar/Dollar Dollar/Norway 8.7470 8.8125 -0.51% -0.48% +8.8220 +8.7490 Euro/Norway 9.9267 9.9682 -0.42% -0.86% +9.9947 +9.9215 Dollar/Sweden 9.1111 9.1357 -0.10% +1.03% +9.1551 +9.1062 Euro/Sweden 10.3376 10.3476 -0.10% +1.01% +10.3686 +10.3334 (Reporting by Gertrude Chavez-Dreyfuss in New York and Joice Alves in London; Editing by Alexander Smith, Kevin Liffey and Jonathan Oatis)

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