USD Strengthens Against AUD & NZD, Irish Government Agrees to Sell Aer Lingus Stake to IAG
May 27, 2015 5:56 am
Asian stocks sagged and the Dollar stood tall on Wednesday on growing prospects that the Federal Reserve is on track to raise interest rates later this year, as well as concerns that financial woes could engulf Spain in addition to Greece. U.S. stocks fell on Tuesday, pushing the S&P 500 to its biggest decline in three weeks, weighed down by concerns about Greece and some upbeat data that fuelled expectations that a U.S. rate hike could come sooner rather than later. The Dow closed 190 points lower at 18,041, while the S&P500 lost 21 points to close at 2,104.
The Euro nudged up 0.2% to $1.0890 but still within reach of a one-month low of $1.0864 struck overnight. The Dollar was little changed at 123.07 Yen, in striking distance of an eight-year peak of 123.33 Yen hit overnight. Commodity currencies also lost ground against the resurgent Dollar, with the Australian Dollar falling to a one-month low of $0.7727. Its New Zealand peer skidded to its lowest in over two months at $0.7222.
U.S. crude managed to edge up 0.3% to $58.35 a barrel on bargain hunting after the slide, while Brent gained 0.2% to $63.85 a barrel. Three-month copper on the London Metal Exchange was in reach of a four-week low of $6,105 a tonne.
The Irish government agreed on Tuesday to sell its 25% stake in Aer Lingus to IAG, paving the way for the owner of British Airways and Iberia to make a formal bid for the Irish carrier. Aer Lingus stock was up 2.5% in early trade at 242p per share whilst IAG was also trading higher by 1.3% at 551p per share.
Asian stocks sagged and the Dollar stood tall on Wednesday on growing prospects that the Federal Reserve is on track to raise interest rates later this year, as well as concerns that financial woes could engulf Spain in addition to Greece. U.S. stocks fell on Tuesday, pushing the S&P 500 to its biggest decline in three weeks, weighed down by concerns about Greece and some upbeat data that fuelled expectations that a U.S. rate hike could come sooner rather than later. The Dow closed 190 points lower at 18,041, while the S&P500 lost 21 points to close at 2,104.
The Euro nudged up 0.2% to $1.0890 but still within reach of a one-month low of $1.0864 struck overnight. The Dollar was little changed at 123.07 Yen, in striking distance of an eight-year peak of 123.33 Yen hit overnight. Commodity currencies also lost ground against the resurgent Dollar, with the Australian Dollar falling to a one-month low of $0.7727. Its New Zealand peer skidded to its lowest in over two months at $0.7222.
U.S. crude managed to edge up 0.3% to $58.35 a barrel on bargain hunting after the slide, while Brent gained 0.2% to $63.85 a barrel. Three-month copper on the London Metal Exchange was in reach of a four-week low of $6,105 a tonne.
The Irish government agreed on Tuesday to sell its 25% stake in Aer Lingus to IAG, paving the way for the owner of British Airways and Iberia to make a formal bid for the Irish carrier. Aer Lingus stock was up 2.5% in early trade at 242p per share whilst IAG was also trading higher by 1.3% at 551p per share.
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