06272016Mon
Last update: Mon, 27 Jun 2016 01am

Asia

Markets - FXMM - Asia

Sterling falls to 8-week low on Brexit anxiety, yen surges TOKYO: The British pound fell to an eight-week low against the dollar and a three-year low against the yen on Monday as investors grew more nervous of a referendum that could pull Britain out of the European Union.The yen gained broadly, hitting a one-month high against the dollar and three-year high against the euro on those Brexit concerns and worries over political fallout after Sunday's mass shooting in the United States.The British pound, which lost 1.4 percent on Friday, its second biggest fall so far this year, shed another 0.3 percent in Asia to $1.4200. It fell to as low as $1.4159, its weakest since April 18."The referendum is getting nearer and opinion polls are showing a very tight (presidential) race," said Shin Kadota, chief FX strategist at Barclays.Implied volatilities on sterling soared as market players felt the need for protection against the currency's fall. Sterling's three-month volatility shot up ...

Markets - FXMM - Asia

Pound at two-month low on British EU exit fears TOKYO: The pound dropped to a two-month low and the yen rallied Monday as jittery investors shifted into safer assets on worries about Britain's possible exit from the European Union.The flight to lower-yielding investments came as Asian stock markets plunged, with dealers awaiting meetings this week of the US and Japanese central banks. Few expect any move on interest rates from the Federal Reserve, but observers are divided over the chances that the Bank of ...

Markets - FXMM - Asia

Sterling falls to 8-week low on Brexit anxiety, yen gains broadly TOKYO: The British pound fell to an eight-week low against the dollar on Monday ahead of a referendum that could pull Britain out of the European Union.The yen gained broadly on those Brexit concerns and worries over political fallout from the rise of presidential candidate Donald Trump.The British pound, which lost 1.4 percent on Friday, its second biggest fall so far this year, shed another 0.5 percent in early Asian trade to $1.4182. It fell ...

Markets - FXMM - Asia

China's yuan weakens, market awaits Fed, MSCI decisions  SHANGHAI: The yuan edged lower against the dollar as it resumed trading on Monday after an extended holiday weekend, pressured by a much weaker midpoint set by the central bank in response to the dollar's rebound during the market closure.Traders said investors are cautious ahead of the US Federal Reserve policy review later this week as they await clues to when the Fed might next hike rates, with markets pricing out a tightening at the ...

Markets - FXMM - Asia

China's yuan trade system to open branches in London, New York SHANGHAI: China's state-owned currency marketplace said on Sunday it was preparing to open branches in London and New York as part of efforts to promote the yuan's global status. The China Foreign Exchange Trade System (CFETS), a subsidiary of China's central bank, said in a statement that by expanding its network offshore, it aims to serve more overseas institutions and become a "main trading platform and pricing center" for the yuan globally. China has been ...

Markets - FXMM - Asia

Sri Lankan rupee rises on dollar conversions by exporters COLOMBO: Sri Lankan rupee forwards rose on Friday as dollar conversions by foreign investors and banks surpassed importer demand for the US currency, dealers said.The spot rupee, which was traded actively for a third straight day, also rose, they added. Dollar/rupee forwards, known as spot next, were at 145.00/05 per dollar, compared with Thursday's close of 145.53/63. Spot next, which acts as a proxy for the spot currency, indicates the exchange rate for the day ...

Markets - FXMM - Asia

South Korean won, stocks weaken on dollar strength, but mark weekly gain SEOUL: The South Korean won extended losses on Friday as the dollar strengthened broadly, but finished the week in positive territory as a rate increase by the US Federal Reserve later this month became unlikely on weak jobs data. The won was quoted at 1,165.5 to the dollar at the conclusion of onshore trade, down 0.8 percent compared to Thursday's close of 1,156.0.The currency gained 1.5 percent for the week, its biggest weekly gain since ...