08262016Fri
Last update: Fri, 26 Aug 2016 02am

Asia

Markets - FXMM - Asia

Sri Lankan rupee trades steady; dollar selling by foreign investors eases pressure COLOMBO: The Sri Lankan rupee held steady for a seventh straight session on Tuesday, with dealers hesitating to trade in the local currency below 145.50 per dollar anticipating central bank intervention to defend the currency, dealers said. Foreign investors were seen selling the US currency, which helped ease pressure on the rupee due to demand for dollars by importers, dealers said.The spot rupee was at 145.50/55 per dollar at 0618 GMT, unchanged from Monday's close.One-week rupee forwards were at 145.74/75 per dollar, from Monday's close of 145.75/80."Nobody wants to trade the spot below 145.50 fearing some central bank actions as in the past," a currency dealer said, asking not to be named."There is no intervention from the central bank. But the market seems to be waiting for some inflows."Central bank officials were not available to comment on whether the spot rupee had been capped at 145.50 per dollar.The spot rupee ...

Markets - FXMM - Asia

Dollar slips as market discounts US rate hike TOKYO: The dollar broadly weakened Tuesday as traders awaited a speech by Federal Reserve chief Janet Yellen, which they hope will offer fresh clues about US monetary policy.The greenback has been see-sawing as divergent views from Fed officials keep markets guessing about the timing of a possible rate hike by the US central bank.On Monday, the dollar rallied in response to hawkish remarks from the bank's vice chairman, who said the Fed was close to ...

Markets - FXMM - Asia

Dollar firms on Fed rate hike speculation TOKYO: The dollar rose Monday in Asian trade on renewed hopes for a possible US rate hike this year following hawkish comments from the vice chairman of the Federal Reserve.The greenback moved higher against major currencies after Stanley Fischer said Sunday that the US central bank was close to meeting its targets, outlining a bright outlook for the world's largest economy.He argued that core inflation was within "hailing distance" of the bank's two percent target ...

Markets - FXMM - Asia

Offshore yuan sharply weaker as dollar rebounds Friday SHANGHAI: China's yuan weakened on Friday despite a stronger midpoint fixing, with the offshore yuan sharply lower as it felt the impact of the dollar's recovery from the previous day's sell-off more directly, traders said.For the week, however, the onshore yuan was down 0.2 percent against the dollar, while the offshore yuan was up 0.1 percent.The People's Bank of China set the midpoint rate at 6.6211 per dollar prior to market open, firmer than the ...

Markets - FXMM - Asia

South Korean won snaps weekly gaining streak; stocks rally SEOUL: The South Korean won fell more than 1 percent on Friday to end the week down, snapping three consecutive weeks of gains.The won was quoted at 1,117.6 to the dollar at the conclusion of onshore trade, down 0.9 percent compared with Thursday's close of 1,107.2. It fell to as low as 1,120.7 during the day.The currency lost 1.3 percent for the week.South Korean shares were nearly unchanged with the Korea Composite Stock Price Index ...

Markets - FXMM - Asia

Dollar up in Asia but gains capped by rate-hike doubts TOKYO: The dollar rose against most Asian currencies Friday but its gains were capped by doubts about the chances of a US interest rate hike this year.Speculation that the Federal Reserve would soon lift borrowing costs -- a plus for the dollar -- got a strong boost this week as an influential member of the central bank's New York branch hinted that a rate hike was possible as early as September.A day later, minutes from ...

Markets - FXMM - Asia

Sri Lankan rupee ends steady; bank demand offsets exporter dollar sales COLOMBO: The Sri Lankan rupee ended steady for a fourth straight session on Thursday as dollar sales by exporters were offset by demand for the U.S. currency from banks, dealers said.Importer demand for dollars however weighed on the currency, they said.The spot rupee ended at 145.50/55 per dollar, unchanged from Tuesday's close.The markets were closed for a holiday on Wednesday."There was (dollar) selling in the market but the rupee is steady as banks buy dollars ...