12052016Mon
Last update: Mon, 05 Dec 2016 07pm

Markets - FXMM

Markets - FXMM - Asia

China's offshore yuan hits record low as signs of capital flight rattle traders  SHANGHAI: China's yuan weakened in a volatile morning session on Wednesday, with the offshore yuan falling to a record-low as traders grappled with signs of accelerating capital outflows in the wake of Republican Donald Trump's US election win.The People's Bank of China set the midpoint rate at 6.8904 per dollar prior to market open, weaker than the previous fix at 6.8779."The market was rather calm today. Big state banks were offering some dollar liquidity to offset dollar purchases by companies," said a Shanghai-basd trader at a Chinese bank.The yuan has come into sharp focus in local and international markets as it slumped to 8-1/2-year lows amid a flight of capital from emerging economies as investors bet Trump's policies will spur US growth, inflation and interest rates higher.Offshore, the yuan weakened past 6.92 per dollar level for the first time since it started trading overseas in late 2010. It stood at ...


Markets - FXMM - Europe

Sterling slips in volatile price action LONDON: Sterling fell back to around $1.24 on Tuesday, with illiquid trading conditions helping the pound reverse around half of a 1 percent rise the previous day on the view that Brexit will be slower - and softer - than had been feared. The pound jumped above $1.25 on Monday after Prime Minister Theresa May pledged to address business concerns that Britain could fall off a "cliff edge" into uncertainty when it leaves the European ...

Markets - FXMM - Middle East & Africa

South Africa's rand firms, stocks rise in emerging assets recovery JOHANNESBURG: South Africa's rand firmed on Tuesday alongside other emerging market currencies, helped by higher commodity prices and a pause in the rise of the dollar. Stocks also rose in line with emerging markets led by investors buying back into over sold retail and banking shares.At 1500 GMT, the rand traded at 14.1300 per dollar, 0.56 percent firmer from its New York close on Monday. "Pressure on the rand has lessened as medium and long-term ...

Markets - FXMM - Americas

C$ hits nearly 2-week high amid OPEC optimism TORONTO: The Canadian dollar strengthened to a nearly two-week high against its US counterpart on Tuesday as investors weighed prospects of an output cut by major oil producers and domestic retail sales rose for the first time in three months.Canadian retail sales rose 0.6 percent in September, in line with economists' expectations, but would have been flat without the increased purchases of cars and parts, data from Statistics Canada showed. After removing the effects of ...

Markets - FXMM - Americas

Dollar regains footing as US data boosts multiple rate hike view NEW YORK: The dollar resumed its uptrend on Tuesday, helped by a surge in US existing home sales last month that further cemented expectations not only of a Federal Reserve interest rate hike in December, but also of further tightening next year. On Monday, the dollar sold off slightly as investors took advantage of a holiday-shortened week to square positions and book profits on a US currency that has logged nearly two weeks of extended ...

Markets - FXMM - Asia

Sri Lankan rupee slips on importer dollar demand COLOMBO: The Sri Lankan rupee ended slightly weaker on Tuesday due to dollar demand from importers on fears that US President-elect Donald Trump's policies would lead to a rise in rates and the greenback.Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next month, dealers said. Rupee forwards were active, with spot-next forwards ending at 148.60/70 per dollar, compared with Monday's close of 148.55/65. "The pressure was ...

Markets - FXMM - Europe

Metals rally helps knock dollar off 13 1/2-year high LONDON: The dollar retreated from a six-month peak against the yen on Tuesday, while a push higher for copper and iron ore prices drove commodities-linked currencies higher, led by the Australian dollar. Two bullish weeks for the dollar since the election of Donald Trump looked to be subsiding before the Thanksgiving holiday, and traders said the widening of an oil rally to other commodities was encouraging a squeeze on pro-dollar positions. "If we're going to ...