Weak dollar, surge in foreign sales boost second-quarter results as drugmakers beat forecasts
TRENTON, N.J. (AP) _ Profits posted Wednesday by Pfizer Inc. and Wyeth show a common theme among pharmaceutical companies nearly all the growth they're seeing these days is overseas, driven by emerging markets and the weak dollar.U.K.-based

Aflac 2Q profit rises 16 percent on exchange rate
COLUMBUS, Ga.Insurer Aflac Inc. said Wednesday its second-quarter profit rose 16 percent, helped by the strength of the Japanese yen relative to the U.S. dollar.But the company's outlook for both the third quarter and full year came in short of analyst

Aflac 2Q profit rises 16 percent on exchange rate
COLUMBUS, Ga. - Insurer Aflac Inc. said Wednesday its second-quarter profit rose 16 percent, helped by the strength of the Japanese yen relative to the U.S. dollar. But the company's outlook for both the third quarter and full year came in short of

Dollar rises on oil drop, housing bill
NEW YORK (Reuters) - The dollar rallied to a one-month peak against the yen and a two-week high against the euro on Wednesday, supported by a further drop in oil prices and improved confidence in the U.S. financial sector. Oil prices, which are trading

Canadian dollar falls on oil, rate uncertainty
* C$ has lowest close against greenback in two weeks * June core inflation unchanged from May at 1.5 percent * Bond prices finish mixed TORONTO, July 23 (Reuters) - The Canadian dollar fell to its lowest close in two weeks against a rallying U.S. dollar

Dollar climbs on back of weak oil prices
LONDON (AFP) ? The dollar rose against the euro and the yen on Wednesday, propped up by lower oil prices and renewed speculation about possible US interest rate hikes, dealers said. In morning deals, the European single currency dipped to 1.5733

Weak dollar, surge in foreign sales boost second-quarter results as drugmakers beat forecasts
TRENTON, N.J. (AP) _ Profits posted Wednesday by Pfizer Inc. and Wyeth show a common theme among pharmaceutical companies nearly all the growth they're seeing these days is overseas, driven by emerging markets and the weak dollar. U.K.-based

Dollar lower as gold, oil fall
The Australian dollar opened weaker as tumbling gold and oil prices put the commodities-driven unit under pressure. For the second day in a row, the US dollar gained on the back of hawkish comments from a voting member of the US Federal Reserve. At 7am,

Dollar opens lower as gold, oil fall
THE Australian dollar opened weaker as tumbling gold and oil prices put the commodities-driven unit under pressure. For the second day in a row, the US dollar gained on the back of hawkish comments from a voting member of the US Federal Reserve. At 7am

Weak dollar, foreign sales boost drugmakers
TRENTON, N.J. Profits posted Wednesday by Pfizer Inc. and Wyeth show a common theme among pharmaceutical companies -- nearly all the growth they're seeing these days is overseas, driven by emerging markets and the weak dollar. U.K.-based GlaxoSmithKline

Canadian Imperial Bank of Commerce faces multibillion - dollar class - action investors' lawsuit
Canadian Imperial Bank of Commerce faces multibillion-dollar class-action investors' lawsuit TORONTO (AP) - A group of investors launched a multibillion-dollar class-action lawsuit in an Ontario court Wednesday against the Canadian Imperial Bank of

RBNZ Surprises, Cutting Rates 25bp to 8.00%
An accelerating recession moved the Reserve Bank of New Zealand to cut interest rates by 25 basis points, putting benchmark borrowing costs at 8.00%. This is the first RBNZ rate cut since 2003. The accompanying release cited greater-than-expected risks

Canadian dollar falls on oil, rate uncertainty
TORONTO (Reuters) - The Canadian dollar fell to its lowest close in two weeks against a rallying U.S. dollar on Wednesday, despite a report that showed inflation in Canada was higher than the market had forecast, hurt by falling oil prices and an

Gold climbs on weak dollar
LONDON, July 22: Gold rose 1.2 per cent as the dollar held near record lows against the euro, oil firmed, and the equity markets softened, boosting interest in the precious metal as an alternative investment to stocks. Spot gold rose to $972.40/973.40 an

USD/JPY Hits 3 Week High
The US dollar hit a 3 week high against the Japanese Yen. Oil prices fell $4 today which is positive not only for the US economy, but also for the Japanese economy. Since Japan imports close to 99 percent of their oil needs, the fall in oil prices could

Euro Could Come Under Further Pressure on German IFO Report
Although dollar strength is the primary reason why the Euro is trading close to a 2 week low, it is starting to become very hard for Euro traders to escape the reality that the Eurozone economy is deteriorating. Eurozone industrial new orders plunged

British Pound: Retail Sales Will Determine Whether the GBP Can Hold Onto Gains
The surprisingly hawkish Bank of England minutes drove the British pound higher against all of the major currencies.The monetary policy committee voted 7-1-1 to keep interest rates unchanged last month. Although 2 dissenters were widely expected, no one

New Zealand Dollar Hits 6 Month Low After RBNZ Rate Cut
For the first time in 5 years, the Reserve Bank of New Zealand cut interest rates by 25bp to 8 percent and signaled that rates will be cut even further. The futures curve is pricing in 5 rate cuts over the next 12 months and this is the first of the

Aflac 2Q profit rises 16 percent on exchange rate
NEW YORK (Associated Press) - Insurer Aflac Inc. said Wednesday its second-quarter profit rose 16 percent, helped by the strength of the Japanese yen relative to the U.S. dollar. But the company's outlook for both the third quarter and full year came in

FOREX-Dollar briefly pares gains on Fed's Beige Book
By Vivianne Rodrigues NEW YORK, July 23 - The dollar pared some gains versus the yen on Wednesday after a Federal Reserve survey of regional economic conditions showed activity slowed somewhat since the last report. For details, see [ID:nWEQ000057] The

Aflac 2nd quarter profit rises 16 percent, boosted by strong Japanese yen compared to dollar
p.m. COLUMBUS, Ga. (AP) - Insurer Aflac Inc. said Wednesday its second-quarter profit rose 16 percent, helped by the strength of the Japanese yen relative to the U.S. dollar. But the company's outlook for both the third quarter and full year came in

Japan carmakersâ?" Q1 to plunge on weak yen
TOKYO (Agencies): Japanese automakers are set to report one of the toughest quarters in recent memory, battered by a weaker dollar, a tough US market and soaring materials costs, with little relief to look forward to for the rest of the year. Even Toyota

Euro lower against dollar at $1.5755 after Fed remarks
FRANKFURT (Agencies): The euro was lower against the U.S. dollar Wednesday after a Federal Reserve official said U.S. interest rates would probably have to be raised soon, regardless of economic difficulties. The 15-nation euro slipped to $1.5755 in

Foreign Exchange
GREENBACK'S DECLINE PROMPTS TALK OF CENTRAL BANK RESERVE DIVERSIFICATION AND ENDING PEGS TO DOLLARCORPORATE FINANCING FOCUS The shifting sands in the foreign exchange market in 2007 undermined the dollar to the extent that China openly weighed what its

Rupee gains 64 paise against dollar
nger by a massive 64 paise against dollar on anticipation of huge dollar inflows, particularly riding on the Indo-US civilian nuclear deal. | Mumbai Rupee closed stronger by a massive 64 paise against dollar on anticipation of huge dollar inflows,

Forex Video - GBP/USD Surges On BOE Vote, Will UK Retail Sales Reverse The Move?
The Bank of England's meeting minutes revealed 2 dissents in July - 1 in favor of a 25bp cut, and 1 surprising vote in favor of a 25bp hike Canadian CPI rocketed to a nearly 3-year high, providing the Loonie with a brief boost Stories to watch on