Markets - FXMM
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TOKYO: The dollar weakened in Asian trade Thursday with few trading cues as firms adjust their month-end forex positions, dealers said, while concerns about global growth hung over markets.The greenback had dropped below the 101-yen level in early Tokyo trade as the Nikkei 225 plunged more than three percent -- yen trade and the benchmark stock index are closely interlinked as the value of the Japanese currency directly affects the competitiveness of the country's exporters.But by midday, the dollar crept back to 101.07 yen against 101.13 yen in New York late Wednesday."No news are behind the move, just flows," a senior dealer at a major Japanese bank told Dow Jones Newswires."The correlation between movements in the Nikkei and the dollar/yen appear to be gradually weakening. I think support at the 100-yen level remains strong."Japanese firms are major currency sellers and buyers as part of running their overseas operations with euro ...
NEW YORK: The dollar retreated across the board on Wednesday as US Treasury yields eased from more than one-year highs, although most investors are convinced the greenback's upward trend is intact.The US currency's losses were most pronounced against the safe-haven yen and Swiss franc, with declines of more than 1 percent.US bond yields, meanwhile, retreated from the 13-month peak touched overnight as investors awaited further signs of whether the economy is gaining enough strength for ...
TORONTO: The Canadian dollar gained against its US counterpart on Wednesday as the greenback's recent rally lost some steam and the Bank of Canada stuck to its view that rates will at some point need to move higher.The loonie, as Canada's currency is colloquially known, gained in the initial aftermath of the central bank announcement, which was also outgoing Governor Mark Carney's last rate decision.It then reversed course, breaking through the C$1.04 barrier for the ...
LONDON: The dollar weakened broadly on Wednesday, losing more than 1 percent on the day against the yen and dropping to a session low against the euro.The dollar fell 1.4 percent to hit a session low of 100.965 yen, taking it closer to last week's trough of 100.59 yen.Traders said weak equity markets encouraged investors to buy the yen, which is seen as a safe haven and usually gains when risky assets like equities fall. ...
SHANGHAI: China's yuan fell slightly on Wednesday as traders reported strong dollar demand from major Chinese oil companies and after the central bank set a lower midpoint to signal a brief pause in the currency's appreciation.Spot yuan was trading at 6.1274 against the dollar, down from 6.1215 at Tuesday's close. Despite the fall, the yuan has hit record highs seven times this month and traded as high as 6.1210 on Monday, its best mark since ...
TOKYO: The dollar lost ground in early Asian trade on Wednesday after flying on fresh data that showed US consumer confidence and home prices were on the rise.The figures are the latest evidence that the world's biggest economy could be mounting a recovery, paving the way for the US Federal Reserve to roll back its huge bond-buying programme known as quantitative easing.Dollar trade has been influenced by differing views over comments from Fed chairman Ben ...More Articles...
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