01192017Thu
Last update: Thu, 19 Jan 2017 05am

Asia

Markets - FXMM - Asia

Sri Lankan rupee steady as exporter dollar sales offset importer demand COLOMBO: The Sri Lankan rupee was steady on Thursday as dollar selling by exporters offset demand for the U.S. currency by importers who fear the economic policies of U.S. President-elect Donald Trump would lead to a rise in the dollar and interest rates.Dealers said foreign investors might pull out of emerging markets, including from Sri Lanka, if the U.S. Federal Reserve raises interest rates next month.Minutes from the Fed's Nov.1-2 meeting, released on Wednesday, showed policymakers were confident that a strengthening economy was enough to warrant interest rate increases soon.Sri Lankan rupee forwards were active on Thursday, with spot-next forwards trading at 148.50/55 per dollar at 0724 GMT compared with Wednesday's close of 148.50/60.The spot rupee was hardly traded, but was quoted at 148.00/60.The central bank revised the spot rupee reference rate to 147.95 per dollar last Friday, from 147.75."There were some local banks selling (dollars); the demand is also ...

Markets - FXMM - Asia

China banks seen selling dollars to brake yuan slide as key support level eyed  SHANGHAI: Chinese state-owned banks sold dollars on Thursday as the yuan inched toward the psychological 7-per-dollar level, a level not seen in more than eight years, traders said.The yuan has now depreciated by more than 6 percent against the dollar so far this year, with its slide accelerating along with other emerging market currencies in recent weeks as the greenback surged on expectations of higher US interest rates.State-owned banks were offering dollar liquidity at around ...

Markets - FXMM - Asia

Growing US tightening fears rattle Asia FX; yuan hits 8-1/2-year low SINGAPORE: Emerging Asian currencies skidded on Thursday as views grew that the Federal Reserve will tighten more aggressively given solid US economic data, adding to pressure from higher Treasury yields and fears over Washington's trade protectionism.The Chinese yuan hit an 8-1/2-year low after the People's Bank of China set its daily guidance rate at its weakest since June 2008.Chinese state-owned banks sold dollars as the renminbi weakened toward the psychological 7 per dollar level, traders ...

Markets - FXMM - Asia

Dollar firms after upbeat US data raises rate hike expectations TOKYO: The dollar firmed in Asian trading on Thursday after data suggesting a pickup in US economic growth early in the fourth quarter increased chances of the Federal Reserve raising interest rates.The dollar index, which tracks the greenback against a basket of six major peers, rose 0.1 percent to 101.77, pushing back toward its overnight high of 101.91, its highest in nearly 14 years.US markets will be closed Thursday for the Thanksgiving holiday, while Tokyo ...

Markets - FXMM - Asia

China weakens yuan-dollar rate below 6.9 mark SHANGHAI: China weakened the yuan's reference rate to beyond 6.9 to the dollar for the first time in more than eight years on Thursday as the surging greenback further pressures the carefully controlled unit.The People's Bank of China set the value of the yuan -- also known as the renminbi -- to 6.9085 to the dollar, down 0.26 percent from Wednesday's fixing, according to data from the Foreign Exchange Trade System. The dollar rose to ...

Markets - FXMM - Asia

Sri Lanka shares fall for 8th session; tax proposals weigh COLOMBO: Sri Lankan shares extended falls to an eighth session on Wednesday, posting their lowest close since April 7, as investor sentiment was hit by budget tax proposals, including revisions in corporate and withholding taxes. The government aims to boost its 2017 tax revenue by 27 percent to 1.82 trillion rupees year-on-year, and meet a commitment given to the International Monetary Fund in return for a $1.5 billion loan in May. The benchmark index of ...

Markets - FXMM - Asia

Dollar clings near 13-1/2-year high, pauses after rally SINGAPORE: The dollar hovered near a recent 13 1/2-year peak on Wednesday, taking a breather after surging on expectations that U.S. interest rates will rise further than earlier anticipated due to prospects of increased fiscal stimulus under a Trump administration.Against a basket of six major currencies, the dollar last stood at 101.05. That was up from Tuesday's low of 100.65 and not too far from Friday's high of 101.48, which was the highest for the ...