04302016Sat
Last update: Sat, 30 Apr 2016 02am

Asia

Markets - FXMM - Asia

Dollar bulls retreat as Yellen stresses need for caution TOKYO/SYDNEY: Dollar bulls were on the defensive on Wednesday after Federal Reserve chair Janet Yellen's cautious tone left markets wondering if there will be even one hike to U.S. interest rates this year.In a speech to the Economic Club of New York, Yellen stressed the need to be cautious in raising rates and highlighted external risks including low oil prices and slower growth abroad.Her stance was in contrast to some of her colleagues who last week suggested another tightening may be around the corner."The communication from global central banks at the moment is causing a bit of consternation for markets in terms of consistent policy signals, or lack thereof," said Sue Trinh, senior currency strategist at RBC Capital Markets in Hong Kong."But Yellen has spoken, and that's seen a reversal for the U.S. dollar," she said.After Yellen spoke, the dollar index slid 0.8 percent in its biggest one-day fall in ...

Markets - FXMM - Asia

Yuan firms after dollar retreats on Yellen's cautious stance  SHANGHAI: China's yuan strengthened against the dollar on Wednesday after the central bank set a much firmer guidance rate following the greenback's global fall on Federal Reserve Chair Janet Yellen's cautious rate-hike approach.The dollar index slid 0.8 percent against a basket of six major currencies on Tuesday, its biggest one-day fall in nearly two weeks, and the loss was retained in Wednesday morning Asian trade.Yellen said on Tuesday the US central bank should proceed only ...

Markets - FXMM - Asia

Sri Lankan rupee forwards decline for fifth session COLOMBO: Sri Lankan rupee forwards fell for a fifth straight session on Tuesday due to dollar demand by importers and foreign investors selling bonds amid low liquidity in the greenback.Dealers said importers were buying the greenback at record low levels.The spot rupee, which has not been active since Jan. 27, did not trade. The central bank has fixed the spot trading price at 143.90 through moral suasion.One-week rupee forwards, which act as a proxy for ...

Markets - FXMM - Asia

Dollar up on yen ahead of Yellen speech TOKYO: The dollar advanced against the yen and euro on Tuesday but edged broadly lower against other Asian currencies as dealers await a speech by Federal Reserve chief Janet Yellen.Yellen's talk in New York later in the day comes after the bank earlier this month lowered its forecasts for lifting borrowing costs this year citing concerns about the impact on the US economy of market turmoil in January and February.Her comments will be pored over ...

Markets - FXMM - Asia

Sri Lankan rupee forwards end lower on economic worries COLOMBO: Sri Lankan rupee forwards fell for a fourth straight session on Monday due to dollar demand by importers and foreign investors selling bonds amid low liquidity in the greenback, dealers said.The local currency is expected to remain under pressure due to growing economic uncertainty and rising debt levels, dealers said.Finance Minister Ravi Karunanayaka said last week that Sri Lanka borrowed over 25 percent more last year than in 2014, blaming the high cost of ...

Markets - FXMM - Asia

China's yuan to face pressure if dollar rises sharply BOAO: China's yuan will come under renewed downward pressure if the US dollar rises significantly in coming months, a policy adviser to the People's Bank of China said on Friday. Huang Yiping, a professor at Peking University and a member of the central bank's monetary policy committee, also said the central bank was managing the yuan against a basket of currencies including the dollar, not again the dollar alone, reaffirming the official stance."If the dollar ...

Markets - FXMM - Asia

Dollar firms against euro, yen on US rate hike talk TOKYO: The dollar rose against the yen and euro Friday in Asia, boosted by growing speculation the Federal Reserve will lift interest rates again soon after a pick-up across world markets over the past month.After the sharp sell-off across assets in January and February, world stock indexes have enjoyed a rally in March boosted by a series of monetary easing measures by central banks from Asia to the Americas.That has led to several Fed policymakers ...