06292016Wed
Last update: Wed, 29 Jun 2016 07pm

Asia

Markets - FXMM - Asia

Sri Lankan rupee 1-week forwards edge up on exporter dollar sales  COLOMBO: Sri Lankan rupee one-week forwards ended firmer on Thursday due to dollar selling by exporters who were expecting further strengthening of the currency after a state-run bank sold the US currency in early trade, dealers said.Importers were reluctant to buy dollars, expecting the currency to strengthen further on the state-run bank's intervention, dealers said. One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee in the absence of trade in three-day forwards, ended at 147.10/30 per dollar, higher than Wednesday's close of 147.40/70."Rupee ended firmer as importers side-stepped expecting central bank to strengthen rupee further," said a currency dealer asking not to be named."We have seen some exporter conversions also."The central bank usually directs the market via two state-run banks, but on Thursday, it was not clear if the bank had sold dollars on behalf of the apex bank.Dealers said the market was perplexed by ...

Markets - FXMM - Asia

Pound hits 6-mth high as Bremain hopes get last minute boost TOKYO: The pound rose to a six-month high against the dollar early on Thursday after the latest polls supported those in favour of Britain remaining in the European Union, hours before a crucial referendum to decide the country's place in Europe.Polls by ComRes, conducted for the Daily Mail newspaper and ITV television, and YouGov for The Times newspaper in London showed a last-minute rise in those supporting Britain to remain in the EU.Reduced Brexit fears ...

Markets - FXMM - Asia

China's yuan flat, traders square positions before UK referendum SHANGHAI: The yuan was little changed against the dollar in cautious trade on Thursday, with some traders squaring their long dollar positions ahead of Britain's referendum on whether to stay in or leave the European Union.The dollar index slid 0.3 percent on Wednesday and extended losses in early Asian trade on Thursday, when sterling hit a six-month high helped by reduced fears of Britain exiting the EU.Spot yuan opened at 6.5747 per dollar and was ...

Markets - FXMM - Asia

Sri Lankan rupee 1-wk forwards edge up on dollar sales COLOMBO: Sri Lankan rupee one-week forwards edged up on Thursday due to dollar selling by a state-run bank, while demand for the greenback from importers amid low liquidity weighed on the currency, dealers said.A decision by Moody's to revise down the country's sovereign rating outlook and lack of exporter conversions also weighed on the local currency, dealers said, adding that the central bank had prevented the spot currency from trading via moral suasion.One-week dollar/rupee forwards, ...

Markets - FXMM - Asia

Pound hits 2016 high as Britain gears up for Brexit vote TOKYO: The pound on Thursday rallied to its strongest level against the dollar this year, just hours before Britain's knife-edge vote on its future in the European Union kicks off.Traders are betting heavily that voters will cast a ballot in favour of staying in the 28-member bloc, analysts said, despite opinion polls pointing to a neck-and-neck race."Markets seem to have almost entirely priced in a 'Remain' vote win, meaning that the market moves and volatility ...

Markets - FXMM - Asia

Sri Lankan rupee 1 week forwards end lower; state bank dollar selling caps losses COLOMBO: Sri Lankan rupee one-week forwards ended lower on Wednesday on importer dollar demand amid low liquidity for the US currency, but dollar selling by a state-run bank capped losses, dealers said.A decision by Moody's to revise down the country's sovereign rating outlook also weighed on the currency, they said.The rupee is also under pressure due to lack of exporter conversions, while moral suasion by the central bank has prevented the spot currency from trading, ...

Markets - FXMM - Asia

India markets regulator eases currency derivatives rules MUMBAI: India's stock market regulator relaxed currency derivatives rules on Wednesday, allowing participants to continue to hold on to their open position limits even if total open interest in a currency pair falls at a stock exchange. Market participants will, however, have to gradually bring down their open positions to comply with applicable limits within a time period specified by the stock exchanges, the Securities and Exchange Board of India said. Earlier, market participants had ...