02112016Thu
Last update: Thu, 11 Feb 2016 01am

Asia

Markets - FXMM - Asia

Yen steady as BoJ chief tempers hopes for more easing TOKYO: The yen held steady in Asia on Monday as Japan's top central banker moved to temper speculation it will unveil more monetary stimulus when it meets this week.A report in the leading Nikkei business daily on Friday raised hopes the Bank of Japan would widen its already vast easing programme to counter weakness in the world's number three economy.The report, which came a day after the head of the European Central Bank had pledged more action, helped send global markets rallying and pushed the yen lower against the dollar and euro.But in a weekend interview with Bloomberg in Davos, Switzerland, BoJ governor Haruhiko Kuroda showed little sign the bank would announce immediate easing measures, although he said it was ready to act "if the underlying inflation trend is seriously affected".Last month, policymakers announced an unexpected tweak to the BoJ's vast stimulus programme but refused to expand the 80 trillion ...

Markets - FXMM - Asia

China plans to launch its ‘Digital Currency’ China, the world second largest economy is planning to launch its own digital currency, in a move to cut its circulation cost on paper money and improve its grip on money supply.According to CNN, the People Bank of China (PBOC) has been studying digital currencies since 2014 and is reviewing what implementation would look like. However, it did not give a timeline for when the digital currency would be introduced.The Issuing digital money could help ...

Markets - FXMM - Asia

Sri Lankan rupee trades steady: stocks up COLOMBO: The Sri Lankan rupee was trading steady on Friday as dollar sales by a private bank dollar offset demand for the U.S currency, dealers said. The private bank might have sold dollars on behalf of the central bank, some dealers said. Officials at the central bank were not available for comment. The rupee traded at 144.00/144.10 per dollar at 0546 GMT, unchanged from Thursday's close. "The import ...

Markets - FXMM - Asia

China official says no plans to devalue yuan SHANGHAI: China has no intention to devalue its currency, the country's vice president Li Yuanchao has said, following a sudden drop in the value of the yuan that spooked global markets this month.Beijing guided the unit down by setting its daily fix lower for eight consecutive sessions, representing a 1.4 percent fall, before returning to stability."The fluctuations in the currency market are a result of market forces and the Chinese government has no intention and ...

Markets - FXMM - Asia

Emerging currencies boosted by oil rally, ECB stimulus hints TOKYO: Higher-yielding emerging market currencies rose against the dollar in Asia on Friday, after a jump in crude prices and hints the ECB could unleash more stimulus helped cheer traders.The South Korean won and the Malaysian ringgit were among top gainers, after taking a battering over concerns of slowing global economic growth, the impact of a US rate rise and a slump in oil to below $30 a barrel. European Central Bank chief Mario Draghi ...

Markets - FXMM - Asia

Temporary oil rebounds help fragile Asia FX gains SINGAPORE: Most emerging Asian currencies rose on Thursday as rebounds in battered oil prices improved risk appetite, while a lack of conviction on a long-term crude recovery amid worries about a slowing global economy limited gains in regional units.Hong Kong's dollar rebounded from an over eight-year low hit on Wednesday as traders cut pessimistic bets amid strength in regional peers.The Malaysian ringgit gained as the bounce in the crude eased concerns over the country's falling ...

Markets - FXMM - Asia

Dollar off 1-year low vs yen as report points to official FX concerns TOKYO: The dollar came off a one-year low against the yen on Thursday after a media report suggested Japanese authorities are becoming increasingly anxious about the strength of the local currency.The dollar was up 0.2 percent at 117.16 yen after descending to 115.97 overnight, its lowest level since January 2015.The U.S. currency had plummeted as a plunge in oil prices to near 13-year lows and an ensuing rout in global equities intensified demand for the ...