06012016Wed
Last update: Wed, 01 Jun 2016 08am

Asia

Markets - FXMM - Asia

Yen soars as jittery markets await Yellen, Japan tax decision TOKYO: The yen surged on Thursday, taking some of the wind out of the sails of the recently buoyant dollar and prompting investors to cover positions against a backdrop of potential event risks, including a speech by Federal Reserve chief Janet Yellen.The dollar earlier had stuck close to recent ranges, as investors looked for Yellen to provide clues on Friday as to whether a U.S. rate increase is imminent, and awaited clarity from Japan on whether it would press ahead with planned sales tax hike next year.Then a sudden spike in the yen in relatively illiquid conditions triggered stop-loss orders and brought the Japanese currency as low as 109.42 per dollar from a session high of 110.235. It was last at 109.69, down 0.4 percent."The sudden move shows how jumpy everyone is," said a trader at a foreign bank in Tokyo.Some market participants mentioned an interview with Masatsugu Asakawa, Japan's ...

Markets - FXMM - Asia

Mystery yen jump turns back dollar rally LONDON: An early surge in the yen in Asia on Thursday put a dampener on any further progress for the dollar after a bullish two weeks and spurred speculation US investors are opposing any gains past 110.50 yen. In relatively illiquid conditions in the first minutes of trading in Tokyo, a large order drove the yen more than half a percent higher against the dollar, undoing the bulk of this week's gains for the US ...

Markets - FXMM - Asia

Malaysian ringgit leads emerging units higher as oil rises TOKYO: Higher-yielding currencies in Asia moved higher against the dollar Thursday, as sentiment in emerging markets picked up as Brent crude passed $50 a barrel for the first time this year.Analysts said recent data from the US indicated that the global economy was showing signs of a gradual recovery, but warned that it was unclear whether long-term sentiment could stay positive.The oil-reliant Malaysian ringgit led gains among higher-yielding, but riskier, emerging units, up 0.6 percent.The ...

Markets - FXMM - Asia

Sri Lankan rupee forwards down on importer dollar demand; stocks up COLOMBO: Sri Lankan rupee forwards edged down on Wednesday due to importer dollar demand amid expectations that the currency would weaken on a possible increase in government spending after the country's worst natural disaster since 2004, dealers said.The cost of landslides and floods after days of torrential rains will be between $1.5 billion and $2 billion at the minimum, the government said on Monday, as the Indian Ocean island struggles to recover from a cyclonic ...

Markets - FXMM - Asia

Yuan weakens, midpoint set at 5-year low as bets on Fed rate hike increase  SHANGHAI: The yuan eased to within a whisker of its early February trough on Wednesday, after the central bank fixed the softest midpoint against the dollar since March 2011 as talk of a US interest rate hike as early as June gathered traction.The dollar index stood near a two-month peak against a basket of currencies on Wednesday morning after robust US housing data supported the case for the Federal Reserve to raise interest rates in ...

Markets - FXMM - Asia

Strong equities support Asia FX; yuan, Fed rate view check gains SINGAPORE: Most emerging Asian currencies rose on Wednesday, tracking stronger equities, while a weak Chinese yuan and expectations of an imminent US interest rate hike kept investors from adding bullish bets on regional units.South Korea's won led regional currencies firmer on exporters' demand for settlements, while the Malaysian ringgit crawled up on higher oil prices and Toyota Motor Corp's near $450 million investment plan.The yuan, however, hit a 3-1/2-month low, weighing on sentiment towards Asian ...

Markets - FXMM - Asia

Dollar edges lower, remains underpinned by robust US housing data TOKYO: The dollar hit a two-month peak against its basket of peer currencies on Wednesday, boosted by robust US housing data supporting the case for the Federal Reserve to raise interest rates in the near term, but fell back slightly.The dollar index inched 0.1 percent lower to 95.503, after earlier rising as high as 95.661, one tick above the overnight high hit after data showed new US single-family home sales surged to a more than ...