06262016Sun
Last update: Sun, 26 Jun 2016 06pm

Asia

Markets - FXMM - Asia

China's yuan steady after rally, Fed caution keeps dollar pressured  SHANGHAI: China's yuan was steady against the dollar on Thursday after late-trade driven solid gains the previous day when the market had wagered the US Federal Reserve would adopt a cautious stance towards raising interest rates.Indeed, globally the greenback was on the defensive after the Fed lowered its economic growth forecasts and scaled back its rate hike projections, cementing expectations that it will have to skip tightening next month.The spot yuan was little changed against the dollar at 6.5817 around midday, versus previous day's close at 6.5786.The Chinese currency jumped in late Wednesday trade from a five-year low of 6.6047 hit in early deals, as speculators rushed in to position for a more cautious Fed."The yuan had factored in the Fed's latest stance," said a dealer at a European bank in Shanghai, and so traders brushed aside a higher official fix.The People's Bank of China set the midpoint rate at ...

Markets - FXMM - Asia

China's yuan steady after rally, Fed caution keeps dollar pressured  SHANGHAI: China's yuan was steady against the dollar on Thursday after late-trade driven solid gains the previous day when the market had wagered the US Federal Reserve would adopt a cautious stance towards raising interest rates.Indeed, globally the greenback was on the defensive after the Fed lowered its economic growth forecasts and scaled back its rate hike projections, cementing expectations that it will have to skip tightening next month.The spot yuan was little changed against ...

Markets - FXMM - Asia

Yen soars to 21-month dollar high as BoJ holds fire on stimulus TOKYO: The yen on Thursday powered to a 21-month high against the dollar after the Bank of Japan held fire on fresh stimulus, as fears over Britain's future in the EU pummel financial markets.Japan's currency hit 104.53 against the dollar, its strongest level since September 2014, as the central bank's policy board voted to keep its 80 trillion yen asset-buying plan unchanged.The decision comes after the Federal Reserve on Wednesday held off raising interest rates ...

Markets - FXMM - Asia

Yen soars as BoJ holds fire on stimulus TOKYO: The yen on Thursday powered to a 21-month high against the dollar after the Bank of Japan held fire on fresh stimulus, as fears over Britain's future in the EU pummel financial markets.Japan's currency hit 104.53 against the dollar, its strongest level since September 2014, as the central bank's policy board voted to keep its 80 trillion yen asset-buying plan unchanged.The euro also tumbled, hitting a more than three-year low of 117.84 yen, against ...

Markets - FXMM - Asia

Sri Lankan rupee 1 week forwards dip on foreign investor, importer demand COLOMBO: Sri Lankan rupee one-week forwards edged down on Wednesday led by dollar demand by importers and foreigners after the recent sharp rise in the local currency due to foreign investor and exporter conversions of the US currency, dealers said.The spot rupee, which was traded actively for four straight sessions through Monday, was not traded on Wednesday for the second straight session, they said. On Monday, it had closed at 144.85/95 per dollar.Dollar/rupee forwards, known ...

Markets - FXMM - Asia

China loosens forex rules on overseas debt funds BEIJING: China will allow companies across the country more leeway in converting funds raised from overseas debt markets into yuan, the foreign exchange regulator said. All firms, including foreign-invested firms, will be allowed to sell foreign debt funds to banks based on their willingness, the State Administration of Foreign Exchange said in a circular, which was dated June 9. Firms in free trade zones in Shanghai, Tianjin, Guangdong and Fujian had already been permitted to ...

Markets - FXMM - Asia

Sri Lankan rupee forwards dip on foreign investor, importer demand COLOMBO: Sri Lankan rupee forwards edged down on Wednesday led by dollar demand by importers and foreigners after the recent sharp rise in the local currency due to foreign investor and exporter conversions of the US currency, dealers said.The spot rupee, which was traded actively for four straight sessions through Monday, was not traded on Wednesday for the second straight session, they said. On Monday, it had closed at 144.85/95 per dollar.Dollar/rupee forwards, known as ...