07252016Mon
Last update: Mon, 25 Jul 2016 01pm

Markets - FXMM

Markets - FXMM - Asia

Yuan firms to 6.6893/dollar at official close on state bank buying SHANGHAI: Major Chinese state-owned banks pushed the yuan up sharply against the dollar late on Tuesday, after it fell through a key psychological level in the previous session, traders said. The yuan was at 6.6893 to the dollar at the official close at 4:30 pm (0830 GMT).The banks' move, which traders suspected was done at the behest of China's central bank, pulled the yuan back from posting an official close weaker than 6.7 per dollar.It breached that level in intraday trade on Monday for the first time in more than 5 years and again during morning trade on Tuesday.China's onshore forex market continues trading until 11:30 pm (1530) in order to let the session overlap with European markets, but volume is generally light and the rate tends to match the official close on most days.The official close is also used as a guideline for setting the next day's official midpoint ...


Markets - FXMM - Asia

Australian, New Zealand dollars slide on rate cut bets LONDON: The Australian dollar fell 1 percent to a 11-day low on Tuesday while the New Zealand dollar hit a three-week trough, as investors ramped up bets that both central banks could ease monetary policy as early as next month. The Australian dollar fell after minutes from the latest central bank meeting left the door open for a move in August while New Zealand's currency was dented after the Reserve Bank stepped up efforts to ...

Markets - FXMM - Europe

Sterling falls back before inflation numbers LONDON: Sterling dropped back below $1.32 ahead of inflation data on Tuesday, more evidence that investors will sell the pound any time it blips higher in expectation of a grim economic aftermath of last month's vote to leave the European Union. Sterling saw its best performance since 2009 last week as many of those who had sold the pound in a 14 percent slide after the referendum took some of the profit they had earned ...

Markets - FXMM - Asia

Bearish yuan and oil weigh on Asia FX; PBOC seen supporting renminbi SINGAPORE: Most emerging Asian currencies eased on Tuesday, as traders booked profits on expectations of further weakness in the Chinese yuan and an extended slide in oil prices.Regional currencies also tracked weakness in the New Zealand dollar and the Australian dollar on views of interest rate cuts in the Antipodeans countries.The yuan edged up with state-run banks spotted intervening to support the currency on behalf of the central bank. On Monday, the renminbi weakened past ...

Markets - FXMM - Asia

South Korean stocks break 7-day rally on profit-taking, won nearly steady SEOUL: South Korean shares snapped a seven-day rally on Tuesday as domestic institutions took profits. The Korea Composite Stock Price Index (KOSPI) closed down 0.2 percent at 2,016.89 points.Foreign investors have been buyers for nine straight days, and purchased a net 305.7 billion won ($269.38 million) of KOSPI shares on Tuesday.The South Korean won pared some earlier losses and held steady near-end session.The won was quoted at 1,135.5 to the dollar at the conclusion of ...

Markets - FXMM - Asia

Yen loses post-Brexit gains TOKYO: The yen on Tuesday briefly wiped out all of the gains in the wake of Britain's vote to leave the European Union, with central bank stimulus speculation holding back the unit.Japan's currency -- seen as a safe investment in times of turmoil -- soared to around 100 against the greenback after the shock results of Britain's June 23 referendum pushed world financial markets into a tailspin.Traders had piled into the yen again late Friday ...

Markets - FXMM - Americas

Yen sinks as traders put on risk NEW YORK: The Japanese yen sank against the dollar and euro Monday as investors turned to riskier assets after the military coup in Turkey failed.The dollar surged 1.3 percent against the yen from late Friday, to 106.14 yen. The euro put on 1.6 percent to 117.56 yen.Traders piled into the yen late Friday as military factions in Turkey attempted to overthrow the government of President Recep Tayyip Erdogan.Erdogan's quick assertion of his power within hours ...