Sibanye Stillwater will not be re-evaluating its currency hedging strategy in response to short-term volatility in forex markets, the South Africa-listed mining company said on Thursday. Currency markets have been in turmoil over the past week, with potential knock-on impacts for global mining companies who have hedges in place to protect them from sudden currency fluctuations.
* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh. * Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv. By Harry Robertson. Sterling fell as much as 1% on Thursday before cutting some of its losses, as the dollar wavered and British Prime Minister Liz Truss defended the government's economic plans that have contributed to the drop in the pound.
* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. By Alexander Marrow. The Russian rouble pared early losses to strengthen on Thursday heading back towards 57 against the dollar, while geopolitical headwinds halted a tentative recovery on stock markets, which slid lower on the day.
* Czech central bank to hold rates, keep supporting crown - poll. * Hungary's forint falls 1.8% to historic low on gas leak worries. * Turkey's Erdogan hopes rate will come down to single digits. * China's yuan bounces from 14-year low after PBOC verbal warning. * EM currencies up 0.2%, stocks off 0.1% By Bansari Mayur Kamdar.
China's yuan bounced on Thursday from a 14-year low against the dollar hit in the previous session, snapping eight straight days of losses, after the central bank warned against speculative trading and heavy one-way bets on the currency.
* Stocks slide again as concerns resume. * Dollar pushes back towards 20-year high. * Pressure back on UK bonds, pound after brief BoE respite. * China says stabilising currency top priority. By Marc Jones. Investors pedalled into another cycle of selling on Thursday as the dollar tightened its hold on the currency markets, recession fears sapped stocks and bonds suffered more interest rate pain.
* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh. * Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv. Sterling fell as much as 1% on Thursday after British Prime Minister Liz Truss defended economic plans that have triggered chaos in the country's markets.
The Hungarian forint fell
to a record low versus the euro on Thursday, leading losses in
central Europe as currencies in the region were hit by worries
over gas leaks on the Nord Stream pipelines ...
* Pound down 1% as PM Truss defends economic plan. * Euro sinks 1%, focus on inflation data. * Dollar bounces back, up 0.66% By Kevin Buckland and Joice Alves. Sterling and the euro fell on Thursday and the U.S. dollar clawed back a recent dip as relief at the Bank of England's intervention in bond markets faded. Investors also awaited German inflation data.
* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. The Russian rouble weakened on Thursday after giving back some late gains that had seen it surge to 57 against the dollar in the previous session, while stocks extended a recovery from February lows hit on Monday, buffeted by geopolitical headwinds.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
Line of Credit Log In Required