09272016Tue
Last update: Tue, 27 Sep 2016 08am

Asia

Markets - FXMM - Asia

Yen skids after BOJ changes policy framework TOKYO: The yen weakened against the dollar and euro on Wednesday after the Bank of Japan altered its policy framework, and investors bought back the U.S. currency ahead of the outcome of the Federal Reserve's policy meeting later in the session.Japan's central bank, overhauling its massive stimulus programme, decided to scrap its focus on monetary base and set targets for long-term rates.The BOJ maintained the 0.1 percent negative interest rate it applies to some of the excess reserves that financial institutions park with the central bank.But it abandoned its base money target and instead set a "yield curve control," under which it will buy long-term government bonds to keep 10-year bond yields around current levels of zero percent."It does give somewhat of an impression of further easing, targeting the 10-year yield at zero and setting a yield curve target," said Ayako Sera, market economist at Sumitomo Mitsui Trust Bank."Overall, that ...

Markets - FXMM - Asia

Sri Lankan rupee ends steady; state bank dollar sales cap fall COLOMBO: The Sri Lankan rupee ended steady on Tuesday as a state bank sold dollars after the local currency fell due to importer greenback demand, with traders unwilling to trade the rupee below the level desired by the central bank, dealers said.Dealers said the rupee strengthened earlier in the session due to state bank dollar sales. The spot rupee ended at 145.90/146.30 per dollar, little changed from Monday's close of 145.90/146.00."The rupee is under pressure ...

Markets - FXMM - Asia

Sri Lankan rupee edges up on state bank dollar sales COLOMBO: The Sri Lankan rupee gained slightly on Tuesday as a state bank sold dollars after the local currency fell due to importer greenback demand, with traders unwilling to trade the rupee below the level desired by the central bank, dealers said.The spot rupee was at 145.80/146.00 per dollar at 0638 GMT, slightly firmer from Monday's close of 145.90/146.00. One-week forwards were at 145.95/146.15, compared with the previous close of 146.12/22.The spot rupee is usually ...

Markets - FXMM - Asia

Yen extends gains as Bank of Japan, Fed kick off meetings TOKYO: The yen extended its gains in Asian trading Tuesday as the Japanese and US central banks kick off their latest policy meetings.The Bank of Japan headed into a two-day gathering, with investors unsure about its plans for monetary policy as more than three years of stimulus has largely failed to boost growth and inflation.More than a half of economists surveyed by Bloomberg News expect the BoJ to step up its easing efforts, with many ...

Markets - FXMM - Asia

China's yuan weakens on companies' strong dollar purchases  SHANGHAI: China's yuan weakened on Tuesday on strong dollar purchases by companies, while traders said state-owned banks sold dollars at around 6.67 in an effort to keep the Chinese currency stable.Prior to market open, the People's Bank of China set the midpoint rate at 6.6595 per dollar, firmer than the previous fix of 6.6786.The spot market opened at 6.6710 per dollar and was changing hands at 6.6691 at midday, 3 pips weaker than the previous ...

Markets - FXMM - Asia

Asia FX dips on BOJ, Fed anxiety; Taiwan dollar resists SINGAPORE: Most emerging Asian currencies eased on Tuesday with caution heightening ahead of Bank of Japan and US Federal Reserve policy decisions this week.But the Taiwan dollar bucked the regional slide, rising to a near two-week high on further inflows into the island's stock market.Malaysia's ringgit slumped as government bond prices fell, suggesting capital outflows.The country's bonds are seen as more vulnerable to a global bond rout as oil prices remain weak, straining the government's ...

Markets - FXMM - Asia

Sri Lankan rupee edges down on importer dollar demand; stocks fall COLOMBO: The Sri Lankan rupee traded weaker on Monday as importer dollar demand surpassed selling of the U.S. currency by exporters, dealers said.The spot rupee was traded at 145.80/95 per dollar at 0625 GMT, slightly weaker from Thursday's close of 145.75/85. One-week forwards were at 146.05/20, compared with the previous close of 145.90/146.00.Markets were closed on Friday for a Buddhist religious holiday.The spot rupee is usually managed by the central bank and market participants use ...