08252016Thu
Last update: Thu, 25 Aug 2016 04am

Asia

Markets - FXMM - Asia

China's yuan firms on Monday as dollar slumps globally  SHANGHAI: China's yuan firmed on Monday after the dollar tumbled in global markets on weak US growth data.But the Chinese market still saw robust dollar demand, while major state banks were suspected of selling dollars on behalf of the central bank to help support the yuan, traders said."Investors still believe the yuan will depreciate by the end of this year, possibly to 6.8/dollar," said a senior trader at a European bank in Shanghai.He said that "sustained" dollar demand in the market despite the yuan's recent rebound, while the central bank "was suspected to be offering dollar liquidity to keep the yuan's value under its control."The People's Bank of China set the midpoint rate at 6.6277 per dollar prior to market open, firmer than the previous fix of 6.6511.The spot market opened at 6.6340 per dollar and was changing hands at 6.6346 at midday, -55 pips away from the previous late ...

Markets - FXMM - Asia

Dollar nurses losses after hit from downbeat GDP report TOKYO: The dollar pulled away on Monday from lows it hit following disappointing U.S. growth figures late last week, while the yen pared some of the large gains it made after the Bank of Japan unveiled a much smaller stimulus than was expected.The dollar index, which tracks the greenback against a basket of six peers, was up 0.1 percent at 95.578, crawling away from its Friday low of 95.384, its lowest since July 5.U.S. gross ...

Markets - FXMM - Asia

Receding Fed rate hike prospects, regional inflows lift Asia FX SINGAPORE: Most emerging Asian currencies extended gains on Monday as disappointing US economic growth reduced expectations of a near-term interest rate hike by the Federal Reserve, encouraging investors to keep seeking higher yields in the region.The Chinese yuan edged up as major state banks were again suspected of intervening on behalf of the People's Bank of China to offset robust dollar demand, traders said.South Korea's won hit a more than 13-month high as foreign investors ...

Markets - FXMM - Asia

Yen surges as Bank of Japan disappoints on stimulus TOKYO: The yen surged Friday after the Bank of Japan made minor tweaks to its stimulus programme that disappointed dealers who had expected a big announcement to kickstart growth in the world's number three economy.The central bank said it would boost its exposure to riskier investments, but left a massive 80 trillion yen ($772 billion) annual bond-buying programme unchanged.The dollar sank below 103 yen from 104.20 yen earlier while Tokyo's Nikkei 225 index dived 1.7 ...

Markets - FXMM - Asia

Dollar down after Fed meeting, Tokyo leads Asia losses HONG KONG: The dollar sank Thursday after the Federal Reserve indicated it would take a slow, measured approach to any interest rate hikes, while Tokyo led most Asian markets lower on worries over the size of the Bank of Japan's expected stimulus.After a closely watched meeting the Fed held borrowing costs but noted the world's top economy had improved and expressed less fear about the impact of Britain's vote to leave the European Union last ...

Markets - FXMM - Asia

Sri Lanka rupee up on bank dollar sales; central bank rate decision eyed COLOMBO: The Sri Lankan rupee edged up on Thursday as banks' dollar sales surpassed mild demand for the greenback from importers, ahead of the central bank's monetary policy rate announcement later in the day, dealers said. The central bank is expected to keep its key interest rates steady for a fifth straight month on Thursday, a Reuters poll showed, despite signs that inflation and private sector credit growth are picking up. However, the possibility of ...

Markets - FXMM - Asia

Sri Lankan rupee ends weaker on importer dollar demand COLOMBO: The Sri Lankan rupee ended weaker on Wednesday due to importer dollar demand as hopes of the currency's appreciation after a recent sovereign bond inflow evaporated, dealers said.One-week rupee forwards, which have been acting as a proxy for the spot rupee, ended at 146.25/40 per dollar, slightly weaker than Tuesday's close of 146.10/30."Today, there was demand (for dollars) from importers," said a currency dealer, asking not to be named.The spot rupee is tightly managed ...