07242016Sun
Last update: Sun, 24 Jul 2016 01pm

Asia

Markets - FXMM - Asia

Pound up ahead of BoE's first post-Brexit meeting TOKYO: The pound rose Thursday ahead of a meeting of the Bank of England as it mulls an interest rate cut to counter the fallout from Britain's vote to exit the European Union.Sterling picked up to $1.3223 from $1.3144 in New York as markets await the outcome of the central bank's first meeting since last month's referendum.The shock decision to exit the 28-member bloc led BoE chief Mark Carney to say "some monetary policy easing will likely be required over the summer".A rate cut would be the bank's first in seven years.In other trading, China's yuan dropped to its lowest in nearly six years on the back of weak trade data that stirred worries about the world's number two economy.The unit was at 6.6878 against the dollar Thursday morning, according to the China Foreign Exchange Trade System. That is just off levels last reached in November 2010."All eyes are on ...

Markets - FXMM - Asia

Risk sentiment supports Asia FX; ringgit dips ahead of policy review SINGAPORE: Most emerging Asian currencies rose on Wednesday as risk sentiment improved on views of more economic stimulus, especially from Japan, and prospects of strong US economic growth.Malaysia's ringgit, however, slid ahead of the central bank's interest rate policy announcement later in the day. Bank Negara Malaysia is widely expected to hold its benchmark rate unchanged at 3.25 percent.The yuan rose as China's central bank was seen intervening in the offshore market to ease depreciation ...

Markets - FXMM - Asia

Yen pares losses as Tokyo rejects 'helicopter money' TOKYO: The yen pared some of its losses Wednesday as a Japanese official doused speculation that Tokyo was mulling so-called helicopter money to boost growth.Top government spokesman Yoshihide Suga said a report in Japan's Sankei newspaper that the government was considering direct money transfers was untrue.The term helicopter money tends to refer to stimulus that would be pumped straight into the economy -- such as into people's bank accounts -- rather than through the banking ...

Markets - FXMM - Asia

Yen pares losses as Tokyo rejects 'helicopter money' TOKYO: The yen pared some of its losses Wednesday as a Japanese official doused speculation that Tokyo was mulling so-called helicopter money to boost growth.Top government spokesman Yoshihide Suga said a report in Japan's Sankei newspaper that the government was considering direct money transfers was untrue.The term helicopter money tends to refer to stimulus that would be pumped straight into the economy -- such as into people's bank accounts -- rather than through the banking ...

Markets - FXMM - Asia

Yen recoups some losses, sterling firms TOKYO: The yen clawed back some of this week's losses in Asian trading on Wednesday, after it sank to 2-1/2-week lows reached this week as the prospects for more economic stimulus in Japan helped bolster risk sentiment.The dollar slipped 0.5 percent to 104.20 yen. On Tuesday, the greenback scaled a peak of 104.98 yen, its highest level since June 24. For the week, the dollar was still up about 3.6 percent against the yen.The euro ...

Markets - FXMM - Asia

China's yuan firms, central Bank suspected of intervening offshore  SHANGHAI: The yuan edged up against the dollar on Wednesday, and traders said the central bank was seen intervening in the offshore market to ease depreciation pressure on the Chinese currency.Traders said the market was little fazed by fears of a spike in regional political tensions after an international arbitration court ruled on Tuesday that China has no historic title over the waters of the South China Sea.The People's Bank of China set the midpoint ...

Markets - FXMM - Asia

Sri Lankan rupee falls as foreign investors prefer new eurobonds COLOMBO: The Sri Lankan rupee fell on Tuesday on a lack of exporter dollar conversions and as foreign investors cut down on rupee bond buying in favour of a new higher-yielding sovereign debt, dealers said.Sri Lanka raised $1.5 billion in its first sale of dual-tranche eurobonds on Monday, although at a lower borrowing cost than initially expected, as yield-hungry global investors put in $6.6 billion in offers.The Sri Lankan rupee one-week forwards, which have been ...