09282016Wed
Last update: Wed, 28 Sep 2016 08pm

Markets - FXMM

Markets - FXMM - Middle East & Africa

South Africa's rand firmer as market bets on low US rates; stocks down JOHANNESBURG: South Africa's rand firmed to its highest in four weeks against the dollar on Wednesday, helped by strong appetite for high yielding emerging market assets as investors anticipate low US interest rates low for longer this year. Stocks fell as heavily weighted rand hedges retreated on a stronger rand. At 1515 GMT, the rand traded at 13.7000 per dollar, 1.55 percent firmer from its New York close on Tuesday. The currency was at its strongest levels since Aug. 23, according to Thomson Reuters data. It also drew support from data showing the headline inflation rate dipped below the top end of the central bank's target in August, helping consumers while suggesting policymakers will keep the benchmark repo rate at 7 percent this week, maintaining attractively high returns for foreign investors. "While we expect the alleviated price pressures to be temporary of nature, this should provide the South African Reserve ...


Markets - FXMM - Asia

Sri Lankan rupee ends lower on importer dollar demand COLOMBO: The Sri Lankan rupee fell on Wednesday on importer dollar demand, with currency forwards active in the absence of trading in the spot currency, dealers said, a day after moral suasion by the central bank capped the rupee's fall. Traders were unwilling to trade the spot rupee below 146.00, a level deemed desirable by the central bank, dealers said. Officials from the central bank were not available for comment. The central bank has largely ...

Markets - FXMM - Americas

C$ strengthens as oil and stocks climb TORONTO: The Canadian dollar strengthened against its US counterpart on Wednesday as oil rose and the Bank of Japan's decision to target the yield curve supported stocks, while investors expected the US Federal Reserve to leave interest rates on hold.US crude prices were up 2.07 percent at $44.96 a barrel after a surprisingly large drop in US crude inventories and as an oil services workers strike in Norway threatened to cut North Sea output.Oil is ...

Markets - FXMM - Europe

Sterling sinks to five-week low as Brexit burden bites LONDON: Worries and uncertainty over the impact of Britain's looming exit from the European Union drove sterling to another five-week trough below $1.30 on Wednesday.Since plumbing a three-decade low of $1.2798 in early July, shortly after Britain's referendum on EU membership, the pound had rallied more than 5 percent up against the dollar, as economic data showed the immediate effects of the Brexit vote were not as dire as had been feared.But with British parliament ...

Markets - FXMM - Asia

South Korea won up on profit-taking ahead of BOJ, stocks hold steady SEOUL: The South Korean won edged up on Wednesday as investors sold the greenback and took profits, expecting that the local currency would strengthen when the Bank of Japan announced the outcome of its policy review later in the session.The won was quoted at 1,115.8 as of 0155 GMT, up 0.4 percent compared to Tuesday's close of 1,120.6.The BOJ is expected to ease policy further, tweaking its bond buying programme and shifting its focus to ...

Markets - FXMM - Asia

Dollar gains after BOJ changes policy framework TOKYO: The dollar jumped on Wednesday after the Bank of Japan altered its policy framework, and investors bought back the U.S. currency ahead of the outcome of the Federal Reserve's policy meeting later in the session.Japan's central bank, overhauling its massive stimulus programme, decided to scrap its focus on monetary base and set targets for long-term rates.The BOJ maintained the 0.1 percent negative interest rate it applies to some of the excess reserves that financial ...

Markets - FXMM - Asia

China state banks seen selling dollars to steady yuan  SHANGHAI: China's yuan was little changed on Wednesday as heavy dollar sales by state-owned banks, which traders suspected were on behalf of the central bank to prop up the Chinese currency, offset dollar purchases by companies.Prior to market open, the People's Bank of China set the midpoint rate at 6.6738 per dollar, weaker than the previous fix of 6.6595.The spot market opened at 6.6721 per dollar and was changing hands at 6.6736 as of 0444 ...