USD at 8-Year High Against Yen, Possible Liberty Global-Vodafone Merger?
May 26, 2015 6:08 am
U.S. stocks ended weaker on Friday after Federal Reserve Chair Janet Yellen indicated that the central bank was poised to raise interest rates this year, in line with Wall Street’s expectations. Asian shares turned higher on Tuesday, reversing earlier losses on the back of gains in Hong Kong and China, while the Dollar extended highs scaled in holiday-thinned trading in the previous session and pushed to an eight-year high against the Yen. The Dow fell 53 points to end the week at 18,232, while the S&P500 lost 4 points to close the week at 2,126.
The Euro skidded about 0.5% at $1.0917, breaking below its overnight nadir and wallowing at its lowest levels since late April. The Dollar surged 0.6% against the Japanese currency to 122.36 yen, breaking above the 122 level for the first time since March 10 and reaching an eight-year peak.
Front-month Brent crude prices were up 6 cents to $65.58 per barrel by 01:20 GMT. U.S. Crude prices were up 16 cents at $59.88 a barrel.
Investors are encouraging Vodafone to spin-off its emerging markets operations and seek a £120bn merger with Liberty Global, according to the Sunday Telegraph. The stock opened 0.2% higher this morning at 253p per share.
U.S. stocks ended weaker on Friday after Federal Reserve Chair Janet Yellen indicated that the central bank was poised to raise interest rates this year, in line with Wall Street’s expectations. Asian shares turned higher on Tuesday, reversing earlier losses on the back of gains in Hong Kong and China, while the Dollar extended highs scaled in holiday-thinned trading in the previous session and pushed to an eight-year high against the Yen. The Dow fell 53 points to end the week at 18,232, while the S&P500 lost 4 points to close the week at 2,126.
The Euro skidded about 0.5% at $1.0917, breaking below its overnight nadir and wallowing at its lowest levels since late April. The Dollar surged 0.6% against the Japanese currency to 122.36 yen, breaking above the 122 level for the first time since March 10 and reaching an eight-year peak.
Front-month Brent crude prices were up 6 cents to $65.58 per barrel by 01:20 GMT. U.S. Crude prices were up 16 cents at $59.88 a barrel.
Investors are encouraging Vodafone to spin-off its emerging markets operations and seek a £120bn merger with Liberty Global, according to the Sunday Telegraph. The stock opened 0.2% higher this morning at 253p per share.
Related Posts: