FX News: EUR, USD, GBP, RMB

on September 13 2012 8:01 AM

FOREIGN EXCHANGE

The euro held near a four-month high on Thursday after Germany's Constitutional Court gave the green light for Berlin to ratify the euro zone's permanent rescue fund, looking to extend gains further on ossible stimulus from the U.S.Fed. EUR at $1.2919 in Asian trade, up slightly from late U.S. levels and near four-month highs of $1.2937 hit a few hours after the German ruling .

**Gains in the euro were limited after Greece's Prime Minister Antonis Samaras received the second refusal in four days from coalition partners over plans to reduce spending that are key to receiving international aid.

**U.K. government bonds declined for a third day after a German court paved the way for the nation's participation in Europe's permanent bailout fund, damping demand for the safest assets. The BoE said its market contacts are skeptical that improvements in sentiment after measures to tackle the EZ concern will be sustained as the region continues to face major challenges.

CME Vs Hong Kong Exchanges in Offshore Yuan Futures

CME, will introduce deliverable futures for offshore yuan in the fourth quarter as growing use of the currency in world trade fuels demand for hedging tools. The move will put it up against Hong Kong Exchanges & Clearing Ltd., which is the second-largest bourse operator by market value and has announced plans to make similar contracts available from Sept. 17.

Shayne Heffernan

Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.

Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.Read the Terms of Service

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