05032016Tue
Last update: Tue, 03 May 2016 02am

Asia

Markets - FXMM - Asia

Japan's Abe rules out intervention as yen sits at 17-month high TOKYO: Japanese Prime Minister Shinzo Abe has ruled out intervening in currency markets to halt a surge in the yen, despite the unit sitting near a year-and-a-half high against the dollar Wednesday.Huge volatility on equity markets driven by worries about the slowdown in global growth have sent traders scurrying for the Japanese unit, which is considered a safe bet in times of turmoil. The currency's turnaround is bad news for the profitability of Japanese exporters and Tokyo's broader attempts kickstart the world's number three economy.But, in an interview with the Wall Street Journal, Abe ruled out stepping into foreign exchange markets to reverse the yen's rise."Whatever the circumstances, we must definitely avoid competitive devaluation, and I think we should refrain from arbitrary intervention in currency markets," Abe said in response to questions about the yen's recent advance.His remarks supported the unit, which on Tuesday briefly broke the 110 level against ...

Markets - FXMM - Asia

Sri Lanka 5-day rupee forwards up on remittances, bank dollar sales COLOMBO: Sri Lankan five-day rupee forwards edged higher on Tuesday as banks sold the dollar through exporters and inward remittances ahead of the Sinhala-Tamil new year next week, dealers said.The forwards, which are called spot next and act as a proxy for the spot currency, traded at 144.70/80 per dollar, firmer from Monday's close of 146.10/20.The state-owned bank sold dollars at 144.50 levels, likely on behalf of the central bank, to keep the rupee steady, ...

Markets - FXMM - Asia

Yen heads to 18-month high aganst dollar TOKYO: The yen pushed towards an 18-month high against the dollar Tuesday as investors seek refuge from an equity market sell-off and expectations of a near-term US interest rate hike fade.Strong US jobs and manufacturing data last week were not enough to fire up the greenback after the Federal Reserve's earlier comments that borrowing costs would remain unchanged until the second half of the year.The dollar changed hands at 110.84 yen in Tokyo afternoon trade, ...

Markets - FXMM - Asia

Sri Lankan 5-day rupee forwards rise on dollar selling by state bank COLOMBO: Sri Lankan five-day rupee forwards edged up on Monday as dollar selling by a state bank and remittances ahead of the Sinhala-Tamil new year outpaced mild importer demand for the greenback, dealers said.The forwards, which act as a proxy for the spot currency and are called spot next, ended at 146.10/20 per dollar, compared with Friday's close of 146.20/50.Dealers said the state bank sold dollars at 145.20 levels, possibly on behalf of the central ...

Markets - FXMM - Asia

Dollar sags, firm US jobs report fails to change Fed rate views TOKYO: The dollar was on the defensive on Monday, after Friday's firm U.S. jobs report failed to shift the broadly held view that the Federal Reserve will remain cautious on interest rate hikes this year.The dollar slipped about 0.2 percent to 111.45 yen, after earlier skidding to as low as 111.32, its nadir since March 21."I think the market is too pessimistic today, against the dollar," said Masashi Murata, senior currency strategist at Brown Brothers ...

Markets - FXMM - Asia

Sri Lankan 5-day rupee forwards edge up on dollar selling by state bank COLOMBO: Sri Lankan five-day rupee forwards edged up on Monday as dollar selling by a state bank helped offset importer demand for the greenback, dealers said.The forwards, which act as a proxy for the spot currency and are called spot next, were at 145.20/40 per dollar at 0532 GMT, compared with Friday's close of 146.20/50 per dollar.Dealers said the state bank sold dollars at 145.00 rupees per dollar, to keep the local currency steady."A state ...

Markets - FXMM - Asia

South Korean won ends up on broad dollar weakness, shares edge up SEOUL: The South Korean won finished higher on Monday on broad dollar weakness as solid U.S. jobs data failed to persuade investors that the Federal Reserve will shift its cautious stance on further rate increases.The local currency was quoted at 1,146.1 to the dollar at the conclusion of onshore trade, up 0.7 percent compared to Friday's close of 1,154.2.South Korean shares edged up as foreign investors became net buyers near the end of the session.The ...