09302016Fri
Last update: Fri, 30 Sep 2016 06am

Asia

Markets - FXMM - Asia

Sri Lankan rupee steady; exporter dollar sales offset importer demand COLOMBO: The Sri Lankan rupee traded steady on Thursday as mild dollar demand from importers was offset by exporters' greenback sales, dealers said.The spot rupee was at 145.40/46 per dollar at 0649 GMT, compared with Wednesday's close of 145.40/45. One-week rupee forwards were at 145.60/65, compared with the previous day's close of 145.65/70.The spot rupee is usually managed by the central bank, and market participants use the forward market levels for guidance on the currency."Today there was not much of selling. The rupee is steady due to the mild importer (dollar) demand," a currency dealer said, asking not to be named.Dealers said seasonal importer demand would pick up from mid-October.Central bank Governor Indrajith Coomaraswamy said last week that the currency was not under upward pressure as capital inflows had not been of sufficient magnitude to exert such pressure.The central bank has largely not intervened to defend the rupee ever since ...

Markets - FXMM - Asia

Euro treads water ahead of ECB policy meeting TOKYO: The euro struggled to break out against the dollar and yen Thursday ahead of a European Central Bank policy decision, with disappointing German factory output fanning fears about the EU's largest economy.With the outlook for the eurozone still tepid, and with lingering uncertainty caused by Britain's vote to leave the European Union, analysts warned the ECB could cut its outlook on the bloc."We think there is a good chance we get a downgrade to ...

Markets - FXMM - Asia

South Korea won rises to 3-week high, stocks firm on weak US data SEOUL: The South Korean won jumped to a three-week high early on Wednesday as downbeat economic data from the world's biggest economy dented already-low chances of the Federal Reserve raising interest rates as early as this month.The won stood at 1,094.6 as of 0214 GMT, its highest since Aug. 16, and up 1.0 percent compared to Tuesday's close at 1,105.2.The dollar slumped after a survey showed US services sector activity slowed to a 6-1/2-year low ...

Markets - FXMM - Asia

China's yuan firms on stronger midpoint, boosts dollar buying  SHANGHAI: China's yuan strengthened for a second consecutive day on Wednesday, with investors quoting the yuan at stronger levels after the central banks set a firmer midpoint fixing rate.But traders said corporate dollar purchases remained strong as the market still believed that the yuan would depreciate in the longer term, with investors making use of the stronger yuan to buy the greenback."The willingness to purchase dollars is quite strong as investors believe the yuan has ...

Markets - FXMM - Asia

Yen strengthens as downbeat US indicators quash rate hike bets TOKYO: The yen charged ahead on Wednesday after downbeat US economic data made a US interest rate increase this month unlikely, prompting investors to trim their dollar bets and triggering stop-loss orders in early Asian trade.The dollar was down 0.6 percent at 101.41 yen after dipping as low as 101.20 earlier, its lowest since Aug. 26 and well below last Friday's high of 104.32 yen.It had tumbled more than 1 percent against its Japanese counterpart ...

Markets - FXMM - Asia

Asia FX rally as gloomy US data hurts Fed rate hike bets SEOUL: Most emerging Asian currencies rose on Wednesday as disappointing US services sector data eased expectations of an immediate interest rate hike by the Federal Reserve, helping investors keep seeking higher yields in the region."A September hike is now off the table and December is uncertain too. So the risk is on," said a senior Malaysian bank currency trader in Kuala Lumpur.The Institute for Supply Management's data showed on Tuesday that the US service sector ...

Markets - FXMM - Asia

Dollar drops as weak US data sinks rate-hike hopes TOKYO: The dollar slumped in Asia Wednesday as another weak batch of US data all but hammered any chance of the Federal Reserve hiking interest rates this month.The Institute for Supply Management said its US non-manufacturing purchasing managers' index (PMI) -- a key reading of the all-important US service sector -- had dived to its lowest level in more than six years. The data follows figures showing a slowdown in jobs creation and factory activity, ...