05302016Mon
Last update: Mon, 30 May 2016 11am

Asia

Markets - FXMM - Asia

Yen hits 18-month high; Aussie slides as RBA eases policy SINGAPORE: The yen hit a fresh 18-month high against the US dollar on Tuesday and jumped against the Australian dollar, after Australia's central bank cut interest rates to a record low. The US dollar fell to 105.78 yen at one point, its lowest level since October 2014. The greenback last stood at 105.85 yen , down 0.5 percent on the day.The yen added to its gains as the Australian dollar skidded after the Reserve Bank of Australia (RBA) cut interest rates by 25 basis points to 1.75 percent. The market had been split on whether the RBA would ease policy on Tuesday.The Australian dollar tumbled 1.8 percent against the yen to 80.08 yen.Against the greenback, the Australian dollar slid 1.3 percent to $0.7568.The RBA will probably lower its inflation forecast when it releases its quarterly statement on monetary policy on Friday, said Roy Teo, senior FX strategist for ABN AMRO ...

Markets - FXMM - Asia

Dollar slips as US data lower rate hike expectations SINGAPORE: The dollar extended its losses against the yen and euro Tuesday as fresh data indicating a slowdown in the US manufacturing sector lowered expectations the Federal Reserve will hike interest rates any time soon.The greenback was already under pressure against the yen after the Bank of Japan on Thursday refused to expand its stimulus programme despite a string of weak economic indicators and two deadly earthquakes that closed factories.On Monday a closely watched gauge ...

Markets - FXMM - Asia

Yen rally eases after Tokyo hints at intervention TOKYO: The yen's soaring rally took a breather in Asian trading Monday after Japanese finance minister Taro Aso warned over the surge, vowing to take action "when necessary".The weekend remarks hinted at a possible market intervention in the wake of the Bank of Japan's shock policy decision last week that caused the yen to surge to an 18-month high against the dollar.On Monday, the greenback edged up to 106.56 yen from 106.31 yen in New ...

Markets - FXMM - Asia

Sri Lankan rupee rises after IMF loan announcement COLOMBO: Sentiment on the Sri Lankan rupee improved on Friday, as reflected in the forwards market, after the International Monetary Fund reached a staff-level agreement with the island nation for a $1.5 billion three-year loan. Traders said banks sold dollars on expectation that the local currency will appreciate. The spot rupee, which has barely seen any trading since Jan. 27, was not actively traded on Friday as well, but the movement in short-term dollar/rupee forwards ...

Markets - FXMM - Asia

China raises yuan rate by most in 11 years SHANGHAI: China on Friday raised the exchange rate for the yuan currency against the US dollar by 0.56 percent from the previous day, the biggest increase in almost 11 years.The People's Bank of China (PBoC) fixed the yuan at 6.4589 to the greenback, according to the China Foreign Exchange Trade System, which operates the national foreign exchange market.It was the strongest daily increase in the rate since July 2005, Bloomberg News reported.China only allows the ...

Markets - FXMM - Asia

Yen hits 18-month high against dollar, eyes on Bank of Japan HONG KONG: The yen pushed back to 18-month highs against the dollar on Friday as a weak US economic growth reading compounded the Bank of Japan's shock decision not to beef up its stimulus.The Japanese unit surged Thursday after the BoJ stood pat on monetary policy, confounding expectations it would act after a double earthquake and a string of weak readings on the world's number three economy.Later that day the Commerce Department said US first-quarter ...

Markets - FXMM - Asia

Sri Lankan 5-day rupee forwards end firmer on bank dollar sales COLOMBO: Sri Lankan five-day rupee forwards ended slightly firmer on Wednesday due to dollar sales by foreign banks, which was to facilitate offshore bond buying, while importers awaited direction on the currency, dealers said."There were (dollar) selling by some foreign banks. Probably foreigners are buying bonds," said a local bank currency dealer, requesting not to be named.A dealer from a foreign bank said foreign investors have been gradually buying in government securities and more inflows ...