01222017Sun
Last update: Sun, 22 Jan 2017 03pm

Markets - FXMM

Markets - FXMM - Europe

Sterling hits 2-month low against rallying dollar LONDON: Sterling hit a two-month low against a dollar that soared to its highest levels in 14 years against a basket of currencies on Tuesday, the first day of London trading in 2017.The pound had earlier hit a two-week high against the euro after a survey suggested British manufacturing growth had climbed to a two-and-a-half-year high last month.The monthly purchasing managers' index (PMI) for the manufacturing sector rose to 56.1, the strongest reading since June 2014. That exceeded all forecasts in a Reuters poll, which pointed to a decline to 53.1, adding to signs that the economy ended 2016 strongly.But as the dollar surged after the equivalent U.S. manufacturing PMI hit a two-year high, sterling weakened against the greenback, falling to $1.2200 - its weakest since the end of October - before recovering to $1.2255, still down 0.2 percent on the day.Against the euro, though, sterling rose 0.2 percent to ...


Markets - FXMM - Asia

China's new rule on yuan transfers not a capital control measure BEIJING: China's new rules on cash transactions and overseas transfers of yuan currency are not forms of capital controls, the state news agency Xinhua said, citing a central bank economist. Banks and other financial institutions in China will have to report all domestic and overseas cash transactions larger than 50,000 yuan ($7,201.50), compared with 200,000 yuan previously, the central bank said on Friday.Ma Jun, chief economist of the People's Bank of China (PBOC), said the ...

Markets - FXMM - Europe

Asian flash surge takes euro to $1.07 LONDON: A short-lived surge in the euro dominated this year's last day of trade in major foreign exchange markets on Friday, with dealers citing a handful of orders as driving the dollar to its lowest since Dec. 8.The euro climbed to as much as $1.07, two full cents higher, and despite an immediate retreat it was still up half a percent on the day at $1.0548 in midday trade in Europe. It was also 1 ...

Markets - FXMM - Europe

Dollar slips to 2-week low vs yen as Treasury yields fall LONDON: The dollar slipped to a two-week low against the yen on Thursday, mirroring a fall in US bond yields as weaker-than-expected economic data weighed on the greenback and waning risk appetite boosted Japan's safe-haven currency. Japan's Nikkei stock index - which tends to move in the opposite direction to the yen - shed 1.3 percent as Toshiba Corp dived 16 percent after news of potential massive writedowns led to a downgrade of its credit ...

Markets - FXMM - Middle East & Africa

WEEKAHEAD-AFRICA-FX -Kenyan shilling seen steady, Nigeria's naira could weaken NAIROBI: Kenya's shilling and Zambia's kwacha are seen holding steady against the dollar in the next week to Thursday, while Nigeria's naira will likely weaken, traders said. KENYA Kenya's shilling is seen holding steady in the week to Thursday due to slow activity before weakening due to a resurgence in dollar demand. At 0800 GMT, commercial banks quoted the shilling at 102.30/50 to the dollar, compared with last Thursday's close of 102.25/45. "We might not ...

Markets - FXMM - Asia

Sri Lankan rupee ends steady amid moral suasion COLOMBO: The Sri Lankan rupee closed steady on Thursday as light importer dollar demand was met by exporter selling and moral suasion by the central bank boosted sentiment, dealers said. They said the local currency might weaken in January after the central bank's comment on Friday that the rupee's depreciation was not necessarily negative for the economy. Rupee forwards were active with one-week forwards closing steady at 150.15/25 per dollar. Spot-next forwards and the spot ...

Markets - FXMM - Asia

Dollar sags vs yen on lower US yields, ebb in risk appetite TOKYO: The dollar sagged against the yen on Thursday, weighed down by US yields slipping to two-week lows and an ebb in risk appetite that favoured the safe-haven Japanese currency.The dollar was down 0.4 percent at 116.800 yen, having come down from a high of 117.815 touched overnight.Treasury yields fell in the wake of weaker-than-expected US pending home sales data and a robust debt auction.The greenback also felt pressure from the safe-haven yen, which provided ...