12082016Thu
Last update: Thu, 08 Dec 2016 02pm

Asia

Markets - FXMM - Asia

China weakens yuan-dollar rate beyond landmark 6.8 level SHANGHAI: China weakened the yuan's reference rate to beyond 6.8 to the dollar for the first time in more than six years Friday as the greenback rebounded strongly, with analysts warning the unit could drop further.The People's Bank of China set the value of the yuan -- also known as the renminbi -- at 6.8115 to the greenback, down 0.34 percent from Thursday's fixing, according to data from the Foreign Exchange Trade System. The dollar surged on Thursday, rebounding strongly from steep losses earlier this week after Donald Trump -- whose surprise presidential win shocked the markets -- gave a reassuring speech to soothe worried investors.Friday's yuan fix is the lowest since September 2010 and an analyst estimated it could still fall further."It has a lot further to go! If President Trump injects massive fiscal stimulus and protectionism then we will see a MUCH weaker CNY and CNH," Michael Every, ...

Markets - FXMM - Asia

Yuan slips as dollar recovers but wary over Trump's China intentions  HONG KONG: China's yuan fell to fresh six-year lows against the US dollar on Thursday after the central bank set a weaker midpoint for the fifth consecutive day to reflect a sharp rebound in the dollar overnight.Traders and analysts said uncertainties over the yuan's direction have increased after Republican Donald Trump's surprise presidential election on Wednesday.Trump had lambasted China throughout the election campaign, drumming up headlines with his pledges to slap 45 percent tariffs on ...

Markets - FXMM - Asia

Dollar tries to stabilise after wild swings on Trump upset TOKYO: The dollar eased on Thursday as traders sought some stability after 24 hours of high drama in global markets that saw a massive selloff in risk assets and an equally dramatic turnaround on Republican Donald Trump's shock U.S. presidential win.With market uncertainty running deep over what a Trump presidency might mean for economic policy, traders quickly latched on to talk that the new administration will usher in higher economic growth and inflation, sending U.S. ...

Markets - FXMM - Asia

Solid dollar, Trump fear hurt Asia FX; yuan at fresh 6-year lows SINGAPORE: Most emerging Asian currencies on Thursday fell on the dollar's rebound on higher US Treasury yields, while concerns grew over negative impacts on regional exports and relationships with Washington after Republican Donald Trump won the presidency.The Chinese yuan hit six-year lows as the central bank set its daily guidance rate weaker for a fifth straight session.Malaysia's ringgit fell to its weakest in more than nine months as the government bond prices lost ground. Thailand's ...

Markets - FXMM - Asia

Sri Lankan rupee trades firm on bank, exporter dollar sales COLOMBO: The Sri Lankan rupee traded slightly firmer on Thursday as dollar selling by exporters and banks outpaced demand for the greenback from importers ahead of the national budget, dealers said.Rupee forwards were active, with spot-next forwards trading at 147.75/148.00 per dollar at 0600 GMT compared with Wednesday's close of 147.90/95.One-week forwards were trading at 148.00 per dollar, little changed from Wednesday's close of 148.05/15."Banks are selling, partly for exporters and some banks are selling ...

Markets - FXMM - Asia

Dollar holds up, Mexican peso back from historic lows TOKYO: The dollar held on to its gains against the yen and euro Thursday, having rebounded from steep losses early the previous day as Donald Trump scored a shock presidential election win.The greenback was sent plunging in Asia Wednesday as it became apparent the brash tycoon would replace Barack Obama in the White House, with dealers worried his policies could send the US economy into recession.However, the unit strengthened and US and European stocks rallied ...

Markets - FXMM - Asia

Dollar tanks as Trump closes in on stunning upset in White House race TOKYO: The dollar took a battering against its major rivals while the Mexican peso plunged to a record low on Wednesday, as global financial markets were rattled by the prospect of a shock win for Republican Donald Trump in the fiercely-contested U.S. election.Trump scored a series of surprising wins over Democrat Hillary Clinton in battleground states including Florida and Ohio, opening a path to the White House for the political outsider that many saw as ...