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

Markets - FXMM

Markets - FXMM - Europe

Dollar pulls back ahead of Yellen testimony LONDON: The dollar fell back against other major currencies on Thursday, hit by speculation U.S. Federal Reserve chief Janet Yellen will express concern over the pace of its surge to a 13 1/2-year high in the past week and an accompanying rise in bond yields.The dollar has ground its way higher this week after jumping in the days following Donald Trump's victory in the U.S. presidential election last Tuesday, fuelled by expectations a Trump White House would drive up inflation.But with two months until his inauguration and a rise in Fed interest rates now fully priced in for next month, several banks say the currency could drift.Valentin Marinov, head of G10 FX strategy at Credit Agricole in London, said that Fed speakers this week had sounded divided on their view on the effective tightening of monetary conditions since Trump's election."All eyes are on Yellen today," he said."She may not share ...


Markets - FXMM - Australia

Australia dollar falls on greenback strength, NZ$ climbs off floor SYDNEY/WELLINGTON: The Australian dollar was pinned near two-month lows on Thursday as the greenback surged on bets inflation and interest rates will rise in the United States under President-elect Donald Trump.The Australian dollar was at $0.7478, after skidding as far as $0.7461 overnight, its lowest since Sept. 15. The Aussie was now threatening a key chart support, and a break would take it to territory not visited since June.The Aussie has lost more than 3.5 ...

Markets - FXMM - Asia

South Korea won, stocks slip as investors show little appetite for risk SEOUL: The South Korean won and shares eased early on Thursday as strong greenback dampened investor appetites for riskier assets.The won stood at 1,174.1 as of 0314 GMT, down 0.4 percent compared to the previous close of 1,169.2.The Korea Composite Stock Price Index (KOSPI) was down 0.1 percent at 1,977.67 points."The won is under pressure mainly due to the dollar's strength," said Ha Keon-hyeong, an analyst at Shinhan Investment Corp. "No other decisive factors are ...

Markets - FXMM - Asia

China's yuan firms despite 10th straight weaker midpoint  HONG KONG: China's yuan firmed against the US dollar on Thursday even as the People's Bank of China set a weaker midpoint for the 10th consecutive day.Traders said large Chinese banks had offered dollars in the market in an apparent effort to ensure the yuan does not depreciate too quickly.The People's Bank of China set the midpoint rate at 6.8692 per dollar prior to market open, weaker than the previous fix 6.8592.The spot market opened ...

Markets - FXMM - Asia

Ringgit leads Asia FX losses on Malaysian capital control fears SINGAPORE: The Malaysian ringgit hit a 10-month low on Thursday with increasing fears of capital controls, while most other emerging Asian currencies eased ahead of US Federal Reserve Chair Janet Yellen's testimony later in the day.China's yuan bucked the trend in regional currencies despite a weaker central bank guidance rate as large local banks bought the currency in an apparent effort to curb its slump.Spot ringgit lost 0.9 percent to 4.3850 per dollar, its weakest ...

Markets - FXMM - Asia

Dollar stays near 13-1/2 year peak; BOJ bond operation weighs on yen SINGAPORE/TOKYO: The dollar caught its breath on Thursday, after charging to a 13-1/2 year high against a basket of currencies on bets the Trump administration will adopt inflationary policies, while the yen sagged after a Bank of Japan bond-buying operation.The dollar index, which tracks the greenback against six major rival currencies, eased 0.1 percent to 100.32, after climbing as high as 100.57 on Wednesday, its loftiest peak since April 2003.The yen retreated from its intraday ...

Markets - FXMM - Asia

Sri Lankan rupee slips on capital outflow fears; state bank dollar sales cap fall COLOMBO: The Sri Lankan rupee edged lower on Thursday on persistent worries of capital outflows as incoming President Donald Trump's policies are seen aiding higher U.S. interest rates and a strong dollar, but the rupee's fall was capped by a state bank's dollar sales.The U.S. dollar index, which measures the greenback's strength against a basket of major currencies, touched a near 14-year high on Wednesday.Rupee forwards were active, with spot-next forwards trading at 148.80/90 per ...