- Russian rouble opens weaker on rate cut fears
The Russian rouble opened weaker on Tuesday, hurt by expectations the central bank could significantly cut its main lending rate at a monetary policy meeting on Thursday and by reduced forex sales by exporters. At 0705 GMT, the rouble was around 0.7 percent weaker against the dollar at 52.35 and had lost 0.5 percent to trade at 56.90 versus the euro.
- Sterling dips after UK growth data falls short
Sterling fell from seven-week highs against the dollar on Tuesday after data showed the UK economy grew slower than expected in the first quarter. The slide in quarterly gross domestic product growth to 0.3 percent -- half that of the last three months of last year and below forecasts of 0.5 percent -- quelled any expectations for a rise in interest rates this year. Sterling recovered some of its initial loss after the data to trade around 0.2 percent lower on the day against the dollar and 0.3 percent lower against a broadly stronger euro. The yield spread between 10-year gilts and the equivalent German Bund narrowed by more than 2 basis points, bottoming at 151.3 basis points.
- Greece hopes keep euro near 3-week high vs stalling dollar
The euro hovered near a three-week peak on Tuesday, boosted by renewed hopes that cash-strapped Greece could secure extra funding and as the dollar remained weak ahead of a US Federal Reserve meeting that starts later in the day. Greek stocks and bonds rallied in response, and the euro reached $1.0927, its strongest since April 7. On Tuesday the single currency was trading flat at $1.0891.
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