08252016Thu
Last update: Thu, 25 Aug 2016 11pm

Markets - FXMM

Markets - FXMM - Middle East & Africa

Rand flat, Old Mutual weighs on South African shares JOHANNESBURG: South Africa's rand was little changed near 10-month highs on Thursday and gains in the benchmark stock index were limited by losses for Old Mutual shares after weak results and news of a possible delay to its break-up. The currency traded 0.1 percent higher at 13.292 to the dollar. It has gained about 5 percent in the last week after local government elections saw opposition parties make inroads into the ruling African National Congress' majority. But momentum indicators show it has strayed into overbought territory and analysts warn that the election outcome could herald populist policy changes and potential ratings downgrades. "We expect risk aversion to come back. It's a very uncertain economic environment and there is a chance the ratings agencies could flag policy direction after the election," Nedbank senior economist Johannes Khoza said."So we don't expect the strength of the rand to be sustained into the second ...


Markets - FXMM - Middle East & Africa

WEEKAHEAD-AFRICA-FX-Nigeria seen supporting naira, other African currencies steady NAIROBI: Nigeria's central bank is expected to offer support to the naira with foreign exchange sales next week, while the Ghanaian, Kenyan, Ugandan and Tanzanian currencies are expected to hold steady. NIGERIA Nigeria's central bank is expected to continue almost daily sales of foreign exchange next week to ease pressure on the naira as foreign investors stay on the sidelines. On the official market the naira, which opened on Thursday at 320 per dollar, firmed ...

Markets - FXMM - Middle East & Africa

Nigeria's central bank sells dollars LAGOS: Nigeria's central bank sold dollars on Thursday to boost liquidity and help the naira to strengthen against the greenback, traders said.The central bank asked some traders to bid for $1.5 million each, they said, adding that the bank had been selling hard currency since this week. A total of $6.27 million traded on Thursday.The naira, which opened at 320 per dollar, closed at 310 on Thursday. It touched an all-time low of 350 on ...

Markets - FXMM - Europe

Sterling slips to one-month low, pulled down by housing data LONDON: A tick up in US Treasury yields and more signs of weakness in Britain's housing market pushed sterling back below $1.30 on Thursday to its lowest in a month, down just over a third of a percent on the day.Dealers said volumes were limited, but the latest report from the Royal Institute of Chartered Surveyors added to the evidence the British economy was slowing, which has weighed on the pound since June's vote to ...

Markets - FXMM - Asia

Dollar up against Asian currencies SINGAPORE: The dollar rose against most Asia Pacific currencies Thursday but gains were capped as traders waited for clearer signals on the timing of a possible US interest rate hike.The New Zealand dollar bucked the trend, surging against the greenback after the country's central bank slashed interest rates to a record low of 2.0 percent and said further easing might be necessary. Forecast-beating US jobs numbers in July, released Friday, revived speculation that the US ...

Markets - FXMM - Asia

Yuan marginally weaker on profit taking, despite firmer fix  SHANGHAI: China's yuan weakened marginally on Thursday as traders took profits on early gains, despite the People's Bank of China setting a firmer fix.The PBOC set the midpoint rate at 6.6255 per dollar prior to market open, firmer than the previous fix 6.653.The yuan was up slightly in early morning trade on a stronger midpoint fixing by the central bank, but weakened in the late morning in what traders said was mild profit taking.Analysts were ...

Markets - FXMM - Asia

South Korea intervention hits won; ringgit leads Asia FX losses SINGAPORE: The South Korean won on Thursday slid to around the psychologically important 1,100 per dollar level as traders cited "heavy" intervention, while the Malaysia ringgit led losses among emerging Asian currencies on falling oil prices.China's yuan, however, was steady as the central bank set its daily guidance rate firmer on what is the first anniversary of its surprise devaluation of the currency.Traders said South Korean foreign exchange authorities were spotted weakening the won "aggressively", ...