01182017Wed
Last update: Wed, 18 Jan 2017 10am

Asia

Markets - FXMM - Asia

Asia FX pessimism ebbs on pause in dollar rally; yuan bearish bets near 2-month low SINGAPORE: Sentiment towards emerging Asian currencies became less bearish in the last two weeks, a Reuters poll showed on Thursday, as the dollar pulled back from a sharp rally that followed Republican Donald Trump's surprise win in last month's US election.There was also less pessimism on the near term outlook for regional currencies as the European Central Bank is predicted to extend its asset-purchase scheme on Thursday, reinforcing the yield allure in Asia.China's yuan reported the smallest bearish bets in nearly two months, according to the survey of 18 fund managers, analysts and currency traders conducted between Tuesday and Thursday.That came as the country's regulators took measures to stem capital outflows including new rules on overseas yuan loans to curb outbound funds and reduce pressure on the currency.State-run banks were also suspected of providing dollar liquidity to stabilise the renminbi. These efforts helped the Chinese currency snap a three-week losing ...

Markets - FXMM - Asia

Euro edges higher, holds near 3-week high as focus shifts to ECB SINGAPORE/TOKYO: The euro edged up and traded near a three-week high against the dollar on Thursday ahead of a European Central Bank policy decision, as the greenback lost momentum from the recent pull-back in U.S. bond yields.The euro has been the main focus for traders this week after Italian Prime Minister Matteo Renzi said he would resign after a stinging defeat in a referendum on constitutional reform.After initially dropping on the referendum news, the euro ...

Markets - FXMM - Asia

China Nov forex reserves fall more than expected to $3.05trn, lowest since 2011 BEIJING: China's foreign exchange reserves fell for a fifth straight month in November and by more than expected to the lowest since March 2011, as authorities struggled to shore up the sliding yuan currency in the face of a relentlessly rising dollar.  Reserves fell by $69.06 billion last month to $3.052 trillion, central bank data showed on Wednesday, following a drop of $45.7 billion in October.Economists polled by Reuters had expected reserves to drop $30 billion to $3.091 trillion, from $3.121 ...

Markets - FXMM - Asia

Euro steadies after short-covering rally, eyes on ECB and Italy           SINGAPORE: The euro steadied on Tuesday, having bounced from a near 21-month low set the previous day after Italian Prime Minister Matteo Renzi's loss in a referendum over constitutional reform, an outcome that traders had widely expected.Renzi announced on Monday that he would resign after the resounding defeat in the referendum.Still, while Renzi's resignation could open the door to an early election next year and the possibility of the anti-euro 5-Star Movement gaining power, many investors and analysts think it more likely ...

Markets - FXMM - Asia

Euro hits near 2-year low after Italy TOKYO: The euro tumbled in early Asian trade on Monday after Italian Prime Minister Matteo Renzi said he would resign after conceding defeat in a referendum over his plan to reform the constitution.The euro dropped 1.3 percent to $1.0505, falling below its 1 1/2-year low of $1.0518 touched late last month, and testing its key support levels where the currency has managed to rebound in the past couple of years.A break below its 2015 March low of $1.0457 would send the ...

Markets - FXMM - Asia

OPEC deal hurts Asia FX; China takes more steps to curb outflows SINGAPORE: Most emerging Asian currencies eased on Thursday as an OPEC deal to reduce oil production pushed up the dollar and US Treasury yields, adding to views that the world's largest economy will see higher inflation.China's yuan eased, but stronger-than expected manufacturing activity in November helped the renminbi recover some losses.Sources told Reuters that China's central bank was imposing new rules on yuan-denominated lending overseas in authorities' latest attempt to stem capital outflows.The South Korean won hit a near one-week low on ...

Markets - FXMM - Asia

Dollar edges up as US yields resume rise, OPEC meeting awaited TOKYO: The dollar pared earlier losses against the yen and euro and edged up on Wednesday, as U.S. debt yields resumed their ascent.The greenback's gains were limited, however, as traders braced for a meeting by the Organization of the Petroleum Exporting Countries (OPEC) later in the day which could spark volatility in financial markets and weigh on the U.S. currency.The dollar rose 0.3 percent to 112.690 yen after going as low as 112.060.It surged to 113.340 overnight on robust revised U.S. ...