08282016Sun
Last update: Sun, 28 Aug 2016 03am

Asia

Markets - FXMM - Asia

Sri Lankan rupee ends firmer on bond buying by foreign investors COLOMBO: The Sri Lankan rupee ended firmer on Thursday as foreign investors sold dollars to buy local bonds on hopes of higher returns after the central bank's policy rate hike, dealers said.The spot rupee, which was last actively traded on June 13, resumed trading on Thursday. It traded at 145.60/68 per dollar, compared with Wednesday's indicative price of 145.80/90, a dealer said."There was a lot of foreign buying in local bonds. The spot currency is being actively traded today," said a currency dealer, asking not to be named."Foreign investors have been buying bonds since the IMF (International Monetary Fund) loan was approved and we see some sudden increase after the appointment of the new central bank governor and last week's policy rate hike."Dealers also said foreign investors were also converting dollars to buy equities.The spot rupee is usually managed tightly by the central bank, and market participants use the forward ...

Markets - FXMM - Asia

Higher equities support Asia FX; BOE rate policy eyed SINGAPORE: Most emerging Asian currencies crawled higher on Thursday, tracking gains in regional stock markets, while investors expected the Bank of England to cut interest rates later in the day.South Korea's won advanced as foreign investors resumed buying Seoul shares.The Malaysian ringgit rose as a temporary rebound in crude prices eased concerns over the country's oil and gas revenues. Higher oil prices also lifted Asian and US equities.The BoE is predicted to cut interest rates ...

Markets - FXMM - Asia

China's yuan little changed as dollar strength offsets weaker midpoint SHANGHAI: China's yuan was little changed on Thursday, despite a weaker central bank midpoint fixing, reflecting a steep rebound in the greenback, traders said."The yuan factored in the dollar's global performance yesterday evening, and that has offset a sharp weakening in the midpoint," said a trader at a Chinese commercial bank in Shanghai.The People's Bank of China set the midpoint rate at 6.6444 per dollar prior to market open, weaker than the previous fix 6.6195.As ...

Markets - FXMM - Asia

Dollar steady, sterling waits for BoE rate cut decision SINGAPORE/TOKYO: The dollar held steady above a recent six-week low on Thursday, while sterling stayed in a tight range with expectations running high that the Bank of England will cut interest rates for the first time since 2009 in a bid to ward off recession.The dollar index, which tracks the greenback against a basket of six major currencies, was flat at 95.565, holding above a near six-week low of 95.003 touched earlier this week.The dollar ...

Markets - FXMM - Asia

Dollar slips ahead of US jobs data, BoE meet in focus TOKYO: The dollar was under pressure Thursday as upbeat jobs data did little to boost hopes for a US interest rate rise, while traders also eyed a Bank of England meeting.On Wednesday, a report from private US payroll firm ADP said the world's top economy added 179,000 jobs in July, slightly more than expected.The figures came ahead of official job-creation figures for July, due on Friday.But analysts expect only a moderate impact on the chances ...

Markets - FXMM - Asia

China's yuan seen falling another 3pc over next 12 months BENGALURU: The Chinese yuan may fall more than 3 percent against the dollar by a year from now, more than expected just a month ago, as the economy struggles to maintain momentum and as the dollar edges up on views of an eventual U.S. rate rise, a Reuters poll found.The survey of over 50 foreign exchange strategists over the past week found the yuan is expected to slip to 6.70 by end-October before falling rapidly ...

Markets - FXMM - Asia

Yen holds gains on underwhelming Japan stimulus TOKYO: The yen held its gains Wednesday after markets were left underwhelmed by Japan's bid to stimulate the sluggish economy, sparking demand for safer assets.On Tuesday, the country's Prime Minister Shinzo Abe announced details of a fresh round of stimulus worth a whopping 28 trillion yen ($273 billion), but the latest in several attempts over the years fell flat.The measures, which included infrastructure spending and efforts to raise the birthrate, did little to inspire hopes ...