07292016Fri
Last update: Fri, 29 Jul 2016 07am

Asia

Markets - FXMM - Asia

Yen gives up gains, sterling pushes higher ahead of BoE meeting TOKYO: The yen surrendered its early gains in Asia on Thursday, while sterling pushed higher but remained capped ahead of a Bank of England meeting that is expected to deliver an easing to blunt the economic fallout of Britain's vote to leave the European Union.The BoE is expected to announce a cut to its benchmark interest rate to a record low of 0.25 percent from 0.5 percent when its makes its monthly policy statement at 1100 GMT.Another key focus is how soon the BoE's Monetary Policy Committee could sanction a new round of quantitative easing, said Sue Trinh, senior currency strategist at RBC Capital Markets in Hong Kong."We're expecting August to be the delivery date, so any kind of guidance on that front will be keenly watched," she said.Wednesday's appointment of Theresa May as Britain's new prime minister alleviated market participants' fears about political chaos in the wake of last ...

Markets - FXMM - Asia

BoE stimulus views lift Asia; ringgit hits 10-week high after rate cut SINGAPORE: Most emerging Asian currencies extended gains on Thursday on expectations that the Bank of England will cut interest rates later in the day, joining a fresh global wave of stimulus and further improving investors' appetite for riskier assets.Malaysia's ringgit hit a 10-week high as the government bond prices extended gains after the central bank's surprise interest rate cut on Wednesday.The South Korean won also touched its strongest level in more than 10 weeks after ...

Markets - FXMM - Asia

Sri Lankan rupee rises on dollar selling by foreign banks COLOMBO: The Sri Lankan rupee rose on Thursday as foreign banks sold dollars on behalf of investors keen to buy local bonds amid hopes the local currency would rise slightly following $1.5 billion inflows from a sovereign bond issue, 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 over $5.5 billion in offers.Earlier this ...

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 ...

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 ...