08272016Sat
Last update: Sat, 27 Aug 2016 06am

Markets - FXMM

Markets - FXMM - Asia

Offshore yuan sharply weaker as dollar rebounds Friday SHANGHAI: China's yuan weakened on Friday despite a stronger midpoint fixing, with the offshore yuan sharply lower as it felt the impact of the dollar's recovery from the previous day's sell-off more directly, traders said.For the week, however, the onshore yuan was down 0.2 percent against the dollar, while the offshore yuan was up 0.1 percent.The People's Bank of China set the midpoint rate at 6.6211 per dollar prior to market open, firmer than the previous fix at 6.6273.Despite the stronger fixing, both the onshore and offshore yuan were down against the dollar Friday, with the offshore yuan falling 0.3 percent to 6.651 in its biggest sell-off since August 5.The global dollar index rose to 94.388 from the previous close of 94.157."I think it was primarily the impact of global markets today," said a trader at a commercial bank in Shanghai."Also, people may think that around 6.60 is too strong ...


Markets - FXMM - Asia

South Korean won snaps weekly gaining streak; stocks rally SEOUL: The South Korean won fell more than 1 percent on Friday to end the week down, snapping three consecutive weeks of gains.The won was quoted at 1,117.6 to the dollar at the conclusion of onshore trade, down 0.9 percent compared with Thursday's close of 1,107.2. It fell to as low as 1,120.7 during the day.The currency lost 1.3 percent for the week.South Korean shares were nearly unchanged with the Korea Composite Stock Price Index ...

Markets - FXMM - Asia

Dollar up in Asia but gains capped by rate-hike doubts TOKYO: The dollar rose against most Asian currencies Friday but its gains were capped by doubts about the chances of a US interest rate hike this year.Speculation that the Federal Reserve would soon lift borrowing costs -- a plus for the dollar -- got a strong boost this week as an influential member of the central bank's New York branch hinted that a rate hike was possible as early as September.A day later, minutes from ...

Markets - FXMM - Americas

Dollar weaken further on ambivalent Fed stance NEW YORK: The dollar again weakened against the euro, the yen and the British pound on Thursday as markets continued to absorb ambivalent signals from the US central bank.Towards 2100 GMT, the euro was at $1.1354, up from $1.1287, levels not seen since the fears created by Britain's June vote to exit the European Union. The dollar sank below the 100 yen mark, falling to 99.94 yen from 100.28. The pound was at $1.3170, up ...

Markets - FXMM - Europe

Sterling reaches two-week high as UK consumers ignore Brexit LONDON: Sterling jumped a full cent to a two-week high against the dollar on Thursday after UK retail sales for July beat forecasts, apparently unaffected by Britain's vote to leave the European Union.The retail sales report was the first to cover a full month following the Brexit vote in late June, showing retail spending rose 5.9 percent for the year and 1.4 percent for the month, compared with forecasts of 4.2 percent and 0.2 percent.That ...

Markets - FXMM - Americas

Latam currencies mostly firm after Fed minutes SAO PAULO: Most Latin American currencies strengthened on Thursday as higher oil prices and division in the Federal Reserve over whether to raise interest rates soon offset bullish comments by a US policymaker.The minutes of the US central bank's last policy meeting released on Wednesday showed that policymakers agree that more economic data is needed before tightening monetary policy.Many traders had expected a more direct sign that the Fed intended to increase rates later this ...

Markets - FXMM - Middle East & Africa

South Africa's rand gains as U.S rate hike worries fade, stocks up on financials JOHANNESBURG: South Africa's rand edged firmer on Thursday along with fellow emerging currencies as risk assets regained favour after minutes from the United States central bank dampened bets of an interest rate hike this year.Stocks were lifted by financials with Standard Bank at the head after reporting better than expected results.By 1600 GMT the rand was 0.2 percent firmer at 13.3455 per dollar, compared with the close at 13.3700 overnight in New York.A lack of ...