02132016Sat
Last update: Sat, 13 Feb 2016 11am

Americas

Markets - FXMM - Americas

Yen rallies again on weakening yuan, swooning stocks NEW YORK: Investors unnerved by the global market rout due to fears about a weakening yuan and the Chinese economy piled into the yen on Thursday, sending it to the strongest levels against the dollar in over four months.The uncertainty on China led traders to sell the Australian dollar, which is seen as a proxy for Chinese growth, pushing it to its lowest since September versus the greenback and the yen ."The yen seems to be the only place to go to," said Ellis Phifer, senior market strategist at Raymond James in Memphis, Tennessee.A fresh safe-haven dash into the yen was spurred by a further weakening of the Chinese currency, a move that is seen as an attempt to stimulate the world's second biggest economy.As fears about Chinese growth persist, Wall Street shares tumbled for a second day with the Standard & Poor's 500 index losing over 2 percent. This ...

Markets - FXMM - Americas

C$ hits fresh 12-year low, pares losses after Poloz speech TORONTO: The Canadian dollar fell to a fresh 12-year low against its US counterpart on Thursday as a rout in stocks and weaker crude oil prices weighed on commodity-linked currencies, but it pared some losses after a speech by Bank of Canada Governor Stephen Poloz.The latest tumble in crude oil prices and the loss of momentum in the Canadian economy has led to speculation Canada's central bank will cut interest rates. But some analysts said ...

Markets - FXMM - Americas

Latam currencies drop on China turmoil; Mexico peso hits record low SAO PAULO: Latin American currencies weakened on Thursday after China's government let the yuan decline further, triggering fears that the world's largest consumer of commodities might experience a steeper slowdown.The move sparked a 7 percent slump in Chinese equities, resulting in an automatic trading suspension for the second time this week. Commodity prices followed suit, dragging along currencies from export-oriented economies.The Mexican peso set an all-time low of 17.7165 to the dollar, while the Colombian ...

Markets - FXMM - Americas

Dollar pares losses on Chinese stock exchanges move NEW YORK: The dollar trimmed losses against a basket of currencies on Thursday after the Shanghai and Shenzhen stock exchanges said China will suspend its new market circuit breaker mechanism, which was tripped for a second time this week. The suspension of the circuit breaker is seen as a move to instill confidence among investors about the Chinese stock market, whose rout this week has spilled across equities markets worldwide. The dollar index, which measures ...

Markets - FXMM - Americas

C$ sets 12-year low on risk aversion, lower crude prices TORONTO: The Canadian dollar set a 12-year low against its US counterpart on Wednesday after risk aversion hit financial markets and crude oil prices tumbled, overshadowing an improvement in Canada's trade deficit.Canada posted a smaller-than-expected trade deficit of C$1.99 billion in November from a revised C$2.49 billion gap in October on increased exports to the United States, data from Statistics Canada showed."It's a step in the right direction," said BMO Capital Markets senior economist Sal ...

Markets - FXMM - Americas

Dollar index falls after Dec FOMC minutes NEW YORK: The dollar weakened against a basket of currencies on Wednesday as a record of the Dec. 15-16 meeting from Federal Reserve policy-makers supported bets further U.S. rate hikes would be gradual on concerns about persistent low inflation.Members of the Federal Open Market Committee, the Fed's policy-setting group, unanimously voted to increase U.S. rates for the first time in nearly a decade last month due to an improving labor market.The dollar index that measures ...

Markets - FXMM - Americas

Dollar steady on US rate-hike view; yuan hits record low NEW YORK: The dollar held steady on Wednesday near one-month highs against a basket of currencies on the view of more US interest rate hikes, while the yuan fell to its lowest since the 2010 opening of its offshore market on worries about the Chinese economy.Further losses across global stock markets stoked bids for the low-risk Japanese yen, which hovered near a three-month high versus the greenback and a nine-month peak against the euro. The ...