08272016Sat
Last update: Sat, 27 Aug 2016 02pm

Markets - FXMM

Markets - FXMM - Asia

China's use of yuan for cross-border business growing SHANGHAI: China's use of its own yuan currency for cross-border transactions has increased "notably" to 9.95 trillion yuan ($1.63 trillion) last year, the central bank said Friday, without giving a comparative figure.China is seeking to make the yuan -- also known as the renminbi (RMB) -- used more internationally in line with its standing as the world's second-largest economy. Some analysts predict the unit will one day rival the US dollar.The combined volume of yuan settlement for cross-border trade, investment and financing accounted for around 20 percent of China's total cross-border payments and receipts last year, the People's Bank of China (PBoC) said in a statement.But while Beijing is looking to promote the yuan, its value is closely controlled and authorities keep a tight grip on the capital account -- investment and financial transactions, rather than those related to trade -- over concerns that unpredictable inflows or outflows could harm ...


Markets - FXMM - Asia

Euro ticks up in Asia after plunging on ECB stimulus TOKYO: The euro edged higher Friday but remained under pressure after sinking to its lowest level in more than a decade after the European Central Bank launch a vast bond-buying programme aimed at kickstarting the eurozone economy.The single currency -- which hit an 11-year low of $1.1316 after the announcement Thursday -- bought $1.1366 in Tokyo early trade, a tad up from $1.1359 late in New York. The euro was trading above the $1.16 level ...

Markets - FXMM - Americas

Euro slumps after ECB launches bond-buying stimulus program NEW YORK: The euro sank to a more than 11-year low against the dollar and a three-month low against the yen on Thursday after the European Central Bank launched a landmark bond-buying program that will pump up to one trillion euros into a sagging euro zone economy. The ECB said it would buy government bonds from this March until the end of September 2016 despite opposition from Germany's Bundesbank and concerns in Berlin that it ...

Markets - FXMM - Middle East & Africa

Rand surges vs euro, dollar after ECB turns on printing press JOHANNESBURG: South Africa's rand powered to its firmest in nearly 18 months against the euro on Thursday and notched up a 6-week high against the dollar after the European Central Bank unveiled a 60 billion euro-a-month asset purchase programme to boost growth. The rand strengthened more than 1 percent against the greenback to 11.3900 at 1545 GMT, breaching a resistance level around the 11.40 mark that had started to build up over the last two ...

Markets - FXMM - Americas

Mexico central bank governor Carstens: peso 'under control' MEXICO CITY: Mexico's peso, which has been hammered by slumping oil prices, will remain "under control" this year despite market volatility, Mexican central bank governor Agustin Carstens said in Davos, Switzerland, state run news agency Notimex reported on Thursday. Mexico's peso has weakened by over 12 percent against the US dollar since early September, prompting policymakers to launch a dollar auction program last month to stabilize the currency and flag concerns over inflationary pressures. "There ...

Markets - FXMM - Europe

Sterling hits seven-year high vs euro as ECB unleashes QE LONDON: Sterling hit a seven-year high against the euro on Thursday after the European Central Bank unveiled a quantitative easing programme that will pump over a trillion euros into the faltering euro zone economy.The ECB said it would start buying government bonds in March and would keep doing so until September 2016. Together with existing schemes to buy private debt, the programme will be worth 60 billion euros a month. That will amount to a ...

Markets - FXMM - Americas

Euro slumps after ECB launches bond-buying program to revive economy NEW YORK: The euro sank to a more than 11-year low against the dollar and a three-month low against the yen on Thursday after the European Central Bank launched a landmark bond-buying program that will pump hundreds of billions into a sagging euro zone economy. The ECB said it would buy government bonds from this March until the end of September 2016 despite opposition from Germany's Bundesbank and concerns in Berlin that it could allow ...