05262016Thu
Last update: Thu, 26 May 2016 05am

Asia

Markets - FXMM - Asia

Yen slips as Japanese officials move to stem rally TOKYO: The yen slipped Monday as Tokyo officials kept up their war of words in a bid to tame the surging currency, while the dollar won support as weak US jobs data failed to extinguish hopes for rate hikes this year.Prime Minister Shinzo Abe and other Japanese officials have been warning over a possible market intervention to cut short the "speculative" rally that has seen the yen soar to 18-month highs against the greenback."Our position is that wide fluctuations and rapid movements are not desirable as they can cause various impacts as far as trade policies and fiscal policies are concerned," Finance Minister Taro Aso said Monday in his latest comments on the issue."We have always said, in these situations that we are prepared to intervene" in the market, he told parliament.Last week, Abe said on a visit to London that "drastic fluctuations" in the yen's value risked having a ...

Markets - FXMM - Asia

Dollar holds up ahead of key US jobs data TOKYO: The dollar held its gains Friday as dealers await US jobs data, after Japan's prime minister left open the door for a market intervention to tame the soaring yen.While the April US jobs report is expected to show a slowdown in new posts, pointing to a softening in the world's top economy, speculation that the Federal Reserve could lift interest rates as early as next month have have buoyed the greenback."In order to maintain ...

Markets - FXMM - Asia

China's yuan firms on corporate demand, market shrugs off 1-month low midpoint SHANGHAI: The yuan edged up against the dollar on Friday on yuan demand from banks and their corporate clients, shrugging off the softest midpoint set by the central bank in a month, traders said.If the yuan closes around the midday level, it would have weakened 0.4 percent from the week before.The People's Bank of China weakened the midpoint rate for a third straight day to 6.5202 per dollar prior to market open, 0.11 percent softer ...

Markets - FXMM - Asia

Dollar up as US data, Japan intervention talk follow rate comments SINGAPORE: The dollar strengthened against the yen in Asia Thursday as upbeat US data and speculation of a Japanese intervention helped cement gains from talk of a Federal Reserve interest rate hike next month.After dipping to an 18-month low around 105.50 yen on Tuesday, the greenback has enjoyed a minor rally in the past two days after two of the US central bank's regional heads raised the possibility of tighter borrowing costs.On Thursday, the dollar ...

Markets - FXMM - Asia

Sri Lankan rupee falls slightly on importer dollar demand COLOMBO: The Sri Lankan rupee fell marginally against the dollar on Wednesday as demand for the greenback from importers outpaced selling by a foreign bank. The central bank, which had been trading the spot rupee at 143.90 per dollar recently until Monday, sold it at 145.70 via state-run banks for the second straight session, indicating the spot reference rate at 145.70, dealers said. Officials from the central bank were not available for comment. The spot ...

Markets - FXMM - Asia

China cuts yuan fix in biggest move since devaluation SHANGHAI: China's central bank on Wednesday fixed the yuan currency nearly 0.60 percent weaker against the US dollar, according to the national foreign exchange market, the biggest downward move since devaluing the unit in August last year.The People's Bank of China set the value of the yuan -- also known as the renminbi (RMB) -- at 6.4943 to $1.0, weakening 0.59 percent from the fix of 6.4565 the previous day, according to data from the ...

Markets - FXMM - Asia

Dollar climbs as Fed officials talk up rate hike SINGAPORE: The dollar rallied Wednesday after comments by two regional Fed officials stoked speculation the US central bank could consider raising interest rates next month.A sell-off in global stocks on fears of a slowing world economy is also leading traders to flee higher-yielding, riskier, investments sending emerging market currencies tumbling.At around 0615 GMT, the dollar was trading at 107.14 yen having touched 18-month lows at 105.50 yen on Tuesday.The euro dipped to $1.1483 after hitting ...