01192017Thu
Last update: Thu, 19 Jan 2017 05am

Asia

Markets - FXMM - Asia

China's yuan weakens as corporate buy dollars  SHANGHAI: China's yuan weakened slightly against the dollar on Wednesday, as support from state-owned banks failed to counter pressure from corporate demand for dollars, traders said."Dollar demand by companies was strong in the morning. Bank clients just stopped (buying) at the levels where state banks emerged to sell dollars," said a Shanghai-based trader at a Chinese bank.The trader also noted the market would keep testing fresh lows, piling pressure on the yuan to depreciate, unless state banks stepped back in.The People's Bank of China set the midpoint rate at 6.9028 per dollar prior to market open, weaker than the previous fix 6.8934.The spot market opened at 6.9049 per dollar and was changing hands at 6.9049 at midday, 49 pips weaker than the previous late session close and 0.03 percent softer than the midpoint.Investors are awaiting the outcome of the US Federal Reserve's policy meeting at 1900 GMT.The Fed is all ...

Markets - FXMM - Asia

Dollar takes breather, investors anxious about Fed rate outlook TOKYO: The dollar took a breather on Wednesday as investors waited to see if the U.S. Federal Reserve will signal any acceleration in the pace of future rate increases to deal with an expected ramp-up in fiscal spending under President-elect Donald Trump.In its policy meeting ending later in the day, the Federal Open Market Committee (FOMC) is seen as all but certain to raise its interest rate target by 0.25 percentage point to 0.50-0.75 percent. ...

Markets - FXMM - Asia

South Korea won rises, but boxed in ahead of Fed; stocks flat SEOUL: The South Korean won stepped up early on Tuesday but overall trade was thin ahead of a Federal Reserve policy meeting at which the US central bank is widely expected to hike rates for the first time this year.The won was quoted at 1,166.5 against the dollar as of 0229 GMT, up 0.15 percent from its previous close."Market players may try to test the 1,160 won line midday as the dollar's strength has quieted ...

Markets - FXMM - Asia

China's yuan firms as state banks sell retreating dollar  HONG KONG: China's yuan on Tuesday firmed against the US dollar, which state-owned banks sold to support the Chinese currency, while the dollar fell against most major currencies on concerns it may have gained too much ahead of a Federal Reserve meeting.The People's Bank of China set the midpoint rate at 6.8934 per dollar prior to market open, firmer than the previous fix of 6.9086.The spot market opened at 6.9015 per dollar and was changing ...

Markets - FXMM - Asia

Sri Lanka rupee edges up on exporter dollar sales COLOMBO: The Sri Lankan rupee ended slightly firmer on Friday as exporter dollar sales surpassed demand for the greenback from state banks, dealers said. Rupee forwards were active, while spot-next forwards ended at 148.85/95 per dollar, compared with Thursday's close of 148.90/95."There were heavy inflows from exporters," said a currency dealer, requesting anonymity. "The state bank (dollar) buying continued." On Tuesday, the central bank raised the spot reference rate by 20 cents to 147.50 per ...

Markets - FXMM - Asia

Sri Lanka rupee steady; exporter dollar sales offset bank demand COLOMBO: The Sri Lankan rupee traded steady on Friday as exporter dollar sales offset demand for the greenback from state banks, dealers said. Rupee forwards were active, while spot-next forwards were trading at 148.90/95 per dollar, unchanged from Thursday's close."The (dollar) selling is there, exporter selling is there, but the rupee is not appreciating as state banks are buying," said a currency dealer, requesting anonymity.On Tuesday, the central bank raised the spot reference rate by ...

Markets - FXMM - Asia

China's yuan weakens on dollar demand after Nov drop in reserves  SHANGHAI: China's yuan weakened against the dollar on Thursday morning, weighed down by companies' demand for the US currency, traders said.The People's Bank of China set the midpoint rate at 6.8731 per dollar prior to market open, firmer than the previous fix of 6.8808.The spot market opened at 6.8796 per dollar and was changing hands at 6.8790 at midday, 70 pips weaker than the previous late session close and 0.09 percent softer than the midpoint.Traders ...