Lebanon's central bank will begin selling unlimited amounts of U.S. dollars in a bid to halt the spiralling devaluation of the Lebanese pound, Governor Riad Salameh said on Tuesday. Salameh set a new rate for Sayrafa, the central bank's exchange platform, at 90,000 Lebanese pounds per dollar on Tuesday.
* Loonie touches its strongest since March 7. * Canada's annual inflation rate cools to 5.2% * Price of U.S. oil rises 1.4% * Canada-U.S. 2-year spread widens by 9.5 basis points. The Canadian dollar strengthened to a two-week high against its U.S. counterpart on Tuesday as the rout in global bank stocks subsided, while domestic data showed inflation slowing more than expected in February.
* * SNB expected to hike rates by 50 bps on Thursday - Reuters poll. * Markets split on 25 bps or no hike for BoE on Thursday - IRPR. * Norges Bank seen hiking by 25 bps on Thursday - Reuters poll. By Joice Alves.
Sterling fell on Tuesday as broader market fears about banks subsided and the focus shifted to the outlook for interest rates, with the Federal Reserve and Bank of England both due to meet this week.
The dollar steadied and sterling fell on Tuesday as traders reckoned banking stress would keep the Federal Reserve and the Bank of England from hiking rates much further, or at all, later in the week. Investors remained concerned over the fate of the banking sector after U.S. lender First Republic shares tumbled nearly 50% on Monday on fears it will need a second rescue.
Central European
currencies firmed and stocks rebounded on Tuesday as global
sentiment improved after the rescue of troubled lender Credit
Suisse by its Swiss rival UBS, with shares in ...
The Russian rouble strengthened on Tuesday, helped by an increased foreign currency supply as exporters prepare to make tax payments, and optimism about the Russian economy amid the backdrop of Chinese President Xi Jinping's visit to Moscow. At 0740 GMT, the rouble was 0.35% stronger against the U.S. dollar at 76.89 and had gained 0.4% to trade at 82.36 versus the euro.
The Swiss National Bank sold 22.3 billion Swiss francs worth of foreign currencies interventions last year, the central bank said in its annual report published on Tuesday, a reversal from the 21.1 billion francs bought in 2021.
The dollar steadied in a holiday-thinned Asia session on Tuesday, though it struggled to lift far from five-week lows as traders reckoned banking stress would keep the Federal Reserve from hiking rates much further, or at all, later in the week. The greenback ticked about 0.1% higher to $1.0712 per euro and advanced a bit further on the Australian and New Zealand dollars.
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