05282016Sat
Last update: Sat, 28 May 2016 12pm

Asia

Markets - FXMM - Asia

Dollar firm against euro, yen as G7 finance chiefs meet TOKYO: The dollar was little changed Friday, holding gains against the euro while rising against the yen as a G7 finance meeting kicked off in northern Japan.The two days of talks may highlight a sharp divide among the club of rich nations over how to rev up global growth, as host Japan seeks to win an endorsement for its position that fiscal stimulus is the way to lift global economic growth.On Friday, investors also weighed the global economic impact of a possible US rate increase as early as June, analysts said.Hawkish minutes from the Federal Reserve's most recent meeting, as well as solid data from the world's top economy -- including last week's better-than-expected US consumer spending figures for April -- have fuelled talk of another hike in interest rates."What we've seen over the last couple of weeks is quite a sharp recalibration of market expectations," Daniel Been, a Sydney-based ...

Markets - FXMM - Asia

Dollar soars against emerging currencies after Fed minutes TOKYO: The dollar soared against emerging market currencies on Thursday as investors sought safety after minutes showed the Federal Reserve was more likely to raise interest rates than previously believed.Traders moved back into the US currency after the minutes to the Fed's April meeting suggested on Wednesday that a US interest rate hike in June was increasingly likely.The move saw most higher yielding, or riskier, emerging units take a belting against the dollar, with the ...

Markets - FXMM - Asia

Sri Lankan rupee forwards firm up; stocks rise COLOMBO: Sri Lankan rupee forwards edged up on Wednesday as dealers were reluctant to trade at levels lower than 147.00 due to moral suasion by the central bank, with the country's finance minister saying the currency would stabilise in June after money from an IMF loan flows in.Dealers also said pressure on the local currency was likely to ease on expected fund inflows following the loan deal with the International Monetary Fund and on a ...

Markets - FXMM - Asia

Increasing prospects of Fed hikes drag Asia FX down SINGAPORE: Emerging Asian currencies slid on Wednesday as expectations of US interest rate hikes increased on solid economic data and top Federal Reserve officials' support for more tightening.The Chinese yuan slid to hover near a two-month low as local companies rushed to buy the dollar.South Korea's won slumped to a two-month trough as offshore funds sold it on broad strength in the dollar .The Thai baht hit a 2-1/2-month low, as traders suspected that the ...

Markets - FXMM - Asia

Dollar pares losses after upbeat Japan GDP lifts yen TOKYO: The yen firmed against the dollar on Wednesday after data showed Japan's economy unexpectedly expanded at the fastest pace in a year in the first quarter, but later gave up most of its gains on views that more stimulus is needed to keep growth on track.Japan's economy expanded by an annualised 1.7 percent in January-March, easily beating the median market forecast for a scant 0.2 percent increase and rebounding from a 1.7 percent contraction ...

Markets - FXMM - Asia

Dollar steady, awaits Japan GDP for cues TOKYO: The dollar held steady on Wednesday, awaiting the Japanese gross domestic product data due later in the day for cues after failing to sustain gains following its advance to a three-week high versus the yen.Economists polled by Reuters expect Japan's GDP to have grown at a modest 0.1 percent in the January-March quarter in annualised terms, highlighting the slowdown in the world's third largest economy."Japan risks slipping into a technical recession. In that case, ...

Markets - FXMM - Asia

Yen gains after upbeat Japan GDP pares stimulus bets TOKYO: The yen gained against the dollar and the euro on Wednesday, after data showed Japan's economy expanded at the fastest pace in a year in the first quarter and some investors pared bets on further stimulus.Japan's economy expanded by an annualised 1.7 percent in January-March, easily beating the median market forecast for a 0.2 percent increase and rebounding from a 1.7 percent contraction in the previous quarter, the Cabinet Office data showed."The yen strengthened ...