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Last update: Sun, 11 Dec 2016 04pm

Asia

Markets - FXMM - Asia

Euro hits near 2-year low after Italy TOKYO: The euro tumbled in early Asian trade on Monday after Italian Prime Minister Matteo Renzi said he would resign after conceding defeat in a referendum over his plan to reform the constitution.The euro dropped 1.3 percent to $1.0505, falling below its 1 1/2-year low of $1.0518 touched late last month, and testing its key support levels where the currency has managed to rebound in the past couple of years.A break below its 2015 March low of $1.0457 would send the currency to its lowest level since early 2003, opening a way for a test of $1, or parity against the dollar, a scenario which many market players now see as a real possibility.Renzi's departure looks set to boost political uncertainty in the euro zone's third largest economy, as his Democratic Party (PD) is running neck-and-neck with the anti-euro 5-star Movement in the opinion polls.It also came at a bad time for Italy's fragile banking system, as Monte dei Paschi di Siena, ...

Markets - FXMM - Asia

OPEC deal hurts Asia FX; China takes more steps to curb outflows SINGAPORE: Most emerging Asian currencies eased on Thursday as an OPEC deal to reduce oil production pushed up the dollar and US Treasury yields, adding to views that the world's largest economy will see higher inflation.China's yuan eased, but stronger-than expected manufacturing activity in November helped the renminbi recover some losses.Sources told Reuters that China's central bank was imposing new rules on yuan-denominated lending overseas in authorities' latest attempt to stem capital outflows.The South Korean won hit a near one-week low on ...

Markets - FXMM - Asia

Dollar edges up as US yields resume rise, OPEC meeting awaited TOKYO: The dollar pared earlier losses against the yen and euro and edged up on Wednesday, as U.S. debt yields resumed their ascent.The greenback's gains were limited, however, as traders braced for a meeting by the Organization of the Petroleum Exporting Countries (OPEC) later in the day which could spark volatility in financial markets and weigh on the U.S. currency.The dollar rose 0.3 percent to 112.690 yen after going as low as 112.060.It surged to 113.340 overnight on robust revised U.S. ...

Markets - FXMM - Asia

Sri Lankan rupee falls on importer dollar demand; stx flat COLOMBO: The Sri Lankan rupee edged down on Monday, hurt by demand for dollar from importers on fears that economic policies of U.S. President-elect Donald Trump may lead to a rise in the greenback and trigger foreign fund outflows.Dealers said foreign investors might pull out of emerging markets, including Sri Lanka, if the U.S. Federal Reserve raises interest rates next month.The dollar and U.S. bond yields fell on Monday as investors reversed a "Trumpflation" trade ...

Markets - FXMM - Asia

China's yuan jumps on state bank buying, dollar weakness SHANGHAI: State-owned Chinese banks sold dollars in the onshore spot market on Monday, in the wake of comments by a central banker that the yuan had the conditions to be stable and strong, two traders said.The banks' move amplified the impact of a slightly weaker dollar, helping to boost the yuan by 0.2 percent, though it remained near 8-1/2-year lows.Spot yuan opened at 6.9042 per dollar and was changing hands at 6.9018 by 0445 GMT, ...

Markets - FXMM - Asia

Greenback retreats as Treasury yields dip, China banks seen selling dollars SINGAPORE: Most emerging Asian currencies rose on Monday as the dollar retreated from a near 14-year high with sliding oil prices dragging US Treasury yields lower, while doubts remained over further appreciation in regional units.China's yuan advanced as state-owned banks were seen selling the dollar in the onshore currency market, traders said. That came after a central bank vice governor said on Sunday that current conditions point to a stabilisation of the renminbi after its ...

Markets - FXMM - Asia

Sri Lankan rupee falls on importer dollar demand COLOMBO: The Sri Lankan rupee ended weaker on Friday due to dollar demand from importers who fear the economic policies of US President-elect Donald Trump could lead to a rise in the greenback and interest rates. Dealers said foreign investors might pull out of emerging markets, including Sri Lanka, if the US Federal Reserve raises interest rates next month.The dollar index, which tracks the greenback against a basket of six major global peers, edged down ...