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The euro clung to through-the-night gains in Asia today, having gone up on the hopes that Greece was nearing agreeing a second bailout package, says Reuters. Meanwhile, improved risk appetite saw the yen go down across the board. The euro stood at $1.3132, after it recovered from a three-week trough of around $1.2973. Traders said that any...

Stocks slumped yesterday in one of their poorest showings in 2012 as Greece continued its negotiations with other nations over a bailout, reports the New York Times. The Dow Jones industrial average fell by 97.33 points (0.76 per cent) to finish the day at 12,780.95. It was the Dow’s biggest one-day decline to date this year, as it only...

Ratings agency Moody’s has lowered the credit ratings of several eurozone nations including Portugal, Spain and Italy, reports the BBC. The agency also downgraded Malta, Slovakia and Slovenia. Moody’s also put Britain, Austria and France on ‘negative outlook’ implying that there is a 30 per cent possibility of...

The UK has been told its credit rating could be cut in the future, potentially raising borrowing costs, according to the BBC. The Moody’s ratings agency released the statement after concerns about the eurozone crisis’s possible impact on the growth prospects of the UK. It put Britain on ‘negative outlook’, which implies there is a...

An increasing number of UK expatriates are giving up on the sterling and the euro and looking at the UD dollar to provide more certainty with their savings. Lloyds TSB International revealed that it has witnessed a significant increase in savers looking for dollar-denominated accounts. It has also now almost doubled the rate which it pays...

The euro dropped from a two-month high today after Greece stopped short of signing a deal on austerity measures, but hopes that a deal can be agreed soon limited the damages, according to Reuters. Lucas Papademos, the Greek prime minister, said that political leaders in Greece have agreed on every point of a bailout package bar one, on...

The US dollar lost ground on the majority of its major counterparts on Tuesday as investors acted on reports of a possible second bailout package for Greece, reports Forex. During the late US trade session, the dollar lost ground on the euro, with the euro gaining 0.87 on the dollar to hit 1.3244. The rally in the single currency was...

As reported by Forexpros, the GB pound trimmed losses on Monday against the US dollar, which was supported by promising euro zone figures, but the sterling remained uncertain as worries over the Greek debt talks continued to dominate. GBP/USD went from 1.5729, the lowest figure since February 1, and hit 1.5761 during the European afternoon...

The Euro has taken a hit today as a meeting between members of Greece’s coalition government failed to result in an agreement over tight austerity measures which would allow the EU and International Monetary Fund to hand over cash which the country could use to pay off its debtors. An agreement has to be made today of Greece wants 130...

An independent Scotland is likely to be more constrained economically, suggests a new study. The National Institute of Economic and Social Research believes that keeping the pound is the “sensible” option, but that a currency union will impede fiscal policy, reports the BBC. The Scottish government used the report to back up its...