Markets - FXMM
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MUMBAI: The Indian rupee posted its biggest single-day fall in four months on Friday, as the dollar's strength against global currencies and demand from oil and gold importers offset gains in domestic shares that have been driven by strong foreign flows.The drop led the currency to post its biggest weekly fall in six months.The yen slid to a four-year low against the dollar on Friday after better US data sparked talk the Federal Reserve may scale back monetary easing and signs emerged that Japanese investors were buying more foreign assets.Dealers said there was also good demand seen for the greenback from corporates, particularly commodities-based sectors like gold and oil."I expect gold demand from banks to peak in the coming days as banks will import more gold before the restriction on their import of gold becomes effective," said Pramod Patil, assistant vice-president, forex and money markets at United Overseas Bank.The central ...
LONDON: Sterling rose to a near four-year high against a beleaguered yen on Friday, with the pound drawing support from a pick-up in activity in the British economy that has lessened the chances of more monetary easing in the near term.Data showed Britain's trade gap narrowed in March and capped a week when most economic numbers like industrial data and house prices surprised investors who were positioned for far worse outcomes.Attention now turns to next ...
TORONTO: The Canadian dollar weakened to its lowest level in a week against the US dollar on Friday after Canadian employment data came in slightly softer than expected, erasing a week of strong gains by the currency.The Canadian dollar fell to C$1.0125, or 98.77 US cents, well off its Thursday North American session close at C$1.0075, or 99.26 US cents, and its lowest level since May 3, after data showed the Canadian economy added just ...
NEW YORK: The yen tumbled to its lowest in more than four years against the dollar on Friday on data showing Japanese investors were buying more foreign assets, while the greenback rallied broadly as US data sparked talk the Federal Reserve may scale back monetary easing.With the Japanese currency breaching the 100-level, analysts expect the yen to fall further. Some have called for the dollar to rise to 105 yen this summer and 110 yen ...
LONDON: The yen slid to its lowest since October 2008 against the dollar on Friday on signs Japanese investors were buying more foreign assets and as US data sparked talk the Federal Reserve may scale back monetary easing.The yen fell 1 percent to hit a four-and-a-half year low of 101.74 yen per US dollar on EBS trading platform.Traders said the yen extended falls after breaking through a reported options barrier at 101.50 yen and as ...
SHANGHAI: China's yuan ended slightly lower on Friday, drifting from its all-time high hit in the previous session, after the central bank set its official midpoint weaker to reflect a rally in the dollar index overnight, traders said.Spot yuan closed at 6.1417 against the dollar, slipping from 6.1309 at the close on Thursday. The PBOC fixed its midpoint at 6.2016 before trade began, weaker than Thursday's all-time high midpoint of 6.1925.Guided by a series of ...
NAIROBI: The Kenyan shilling slipped on Friday on corporates buying dollars, but traders said they expected the currency to firm next week on continued foreign investor flows into local shares.At 0859 GMT, commercial banks quoted the shilling at 83.75/95 per dollar, weaker than Thursday's close of 83.60/80."There is a bit of corporate demand for dollars. They feel the shilling gains have bottomed out at 83.60," said Sheikh Mehran, a senior trader at Kenya Commercial Bank.Some ...More Articles...
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