08262016Fri
Last update: Fri, 26 Aug 2016 08am

Asia

Markets - FXMM - Asia

Dollar slips as Fed minutes show scant support for near-term hike TOKYO/SINGAPORE: The dollar hit a seven-week low against a basket of major currencies on Thursday, after minutes from the Federal Reserve's July meeting showed policy committee members opposed to a near-term rate hike outnumbered those who wanted one.The minutes released on Wednesday showed "several" policymakers said a slowdown in the future pace of hiring would argue against a near-term hike even as members of the rate-setting Federal Open Market Committee were generally upbeat about the U.S. economic outlook.They outnumbered board members who anticipated that economic conditions would soon warrant tightening policy.The minutes disappointed those who had bet that the Fed could be more hawkish, after New York Fed chief William Dudley said on Tuesday that the Fed could possibly raise U.S. interest rates as soon as September.The dollar's index against a basket of six major currenciestouched a low of 94.385, its weakest level since June 24. The dollar index last ...

Markets - FXMM - Asia

Yuan firms as Fed minutes show lack of support for US rate hike  SHANGHAI: China's yuan firmed on Thursday as the dollar was broadly weaker after the release of minutes of the Federal Reserve's July meeting that showed policymakers opposed to a near term hike in interest rates outnumbered those in favour of one.The People's Bank of China set the midpoint rate at 6.6273 per dollar prior to market open, weaker than the previous fix 6.6056.The spot market opened at 6.6260 yuan per dollar and was trading at ...

Markets - FXMM - Asia

Sparse Fed rate hike signal supports Asia FX; yuan up SINGAPORE: Most emerging Asian currencies rose against the dollar on Thursday as the minutes of the US Federal Reserve indicated the central bank is unlikely to raise interest rates soon.Regional currencies, however, eased against the yen as strength in the Japanese currency spurred some investors to unwind bullish bets on emerging Asia versus the low-yielding yen.The yuan gained as the weak US dollar offset the Chinese central bank's soft daily guidance rate.Malaysia's ringgit advanced on ...

Markets - FXMM - Asia

Dollar drops after Fed minutes dampen hike expectations TOKYO: The dollar dropped Thursday as records from the Federal Reserve's last meeting dampened hopes of an imminent US interest rate hike.Minutes from the US central bank's July gathering said policymakers were keeping their "options open" but remained divided on the threat of inflation.A hike in US borrowing costs would tend to lift the dollar by stirring demand for dollar-denominated assets, so Wednesday's minutes weighed on the unit.The news comes after William Dudley, the influential ...

Markets - FXMM - Asia

Yuan weakens even on stronger midpoint; inflows in focus HONG KONG: China's yuan weakened on Wednesday, on stronger prospects for a US interest rate rise this year and following the approval of a stock link between the Shenzhen and Hong Kong equity markets.The dollar edged off 7-week lows against the yen and euro on Wednesday after hawkish comments from Federal Reserve officials raised the prospect that US rates could rise as early as September. The global dollar index rose to 94.88 from the previous ...

Markets - FXMM - Asia

South Korean won, stocks fall on hawkish comments from Fed officials SEOUL: The South Korean won sharply fell on Wednesday, while shares edged down as markets became jittery after comments from Federal Reserve officials raised the prospects of a rate hike in the United States in September. The won was quoted at 1,108.3 to the dollar at the conclusion of onshore trade, down 1.5 percent from Tuesday's close at 1,092.2.The Korea Composite Stock Price Index (KOSPI) closed down 0.2 percent at 2,043.75 points.Offshore investors bought a ...

Markets - FXMM - Asia

Dollar halts slide on Fed rate hike talk TOKYO: The dollar halted its slide in Asia trade Wednesday after a senior US central banker said overnight that an interest rate raise could come as early as next month.William Dudley, the influential head of the Federal Reserve's New York branch, unexpectedly hinted that a rate hike was possible as early as September.Analysts said the comments from Dudley -- who remarked that Wall Street investors were too "complacent" about the prospect of higher borrowing costs ...