The dollar rose to an eight-month high, as comments from a regional Fed president further cemented expectations of a rate hike next month.
NEW YORK, Nov 20- Currency managers are getting back on their feet after weathering lackluster performance and investor outflows in the aftermath of the global financial crisis, thanks to a surging U.S. dollar and increased volatility in the foreign exchange market. Many in the currency management industry are benefiting, from funds owned by custodian banks...
Comments from European Central Bank chief Mario Draghi sent the euro down half a percent to below $1.07.
SHANGHAI— Authorities in China have cracked the country's biggest-ever underground banking network, which handled illegal foreign exchange transactions worth 410 billion yuan, police said Friday. Jinhua is in Zhejiang province on China's eastern coast, a zone known for its shadowy financial networks. China has tight currency controls, which officially...
Chinese banks are alarmed by a rising number of defaults among jewelry manufacturers, prompting them to review new gold lending more carefully.
China's yuan may enter the IMF's basket at a lower weighting than previously estimated as the IMF considers rejigging the basket.
The dollar weakened across the board on Thursday after rising for four straight sessions.
The U.S. dollar stumbled against a basket of currencies on Thursday, even as the Fed's minutes indicated that a December rate rise is on the cards.
The dollar slipped briefly as markets digested minutes of the Federal Reserve's policy meeting, but the morning's gains quickly returned.
China's home prices edged up a tad in October, posting the first on-year gains in more than a year.
BEIJING, Nov 18- China's commercial banks sold a net $20.1 billion in foreign exchange settlements in October, the country's foreign exchange regulator said on Wednesday, falling sharply from September's $109.2 billion amid signs of easing capital outflows. Capital outflows eased in October as the domestic stock market recovered after a crash over the...
The dollar climbed on Tuesday as a rise in U.S. inflation reinforced expectations that the Federal Reserve will raise interest rates next month.
SHANGHAI, Nov 17- The Chinese yuan weakened on Tuesday as some investors sold the currency amid uncertainty over central bank actions in the foreign exchange market in the past 24 hours. The People's Bank of China set the midpoint rate at 6.374 per dollar prior to market open, firmer than the previous fix 6.375. Traders believe the PBOC is keen to narrow the gap...
China's economic slowdown isn't spooking Morgan Stanley, which has its eye on the mainland's "new economy."
The dollar rose sharply, as markets were unshaken by the weekend attacks in Paris.
BEIJING, Nov 16- China and Turkey have renewed their bilateral local currency swap agreement for a further three years, and increased the swap line from 10 billion yuan to 12 billion yuan, the People's Bank of China said on Monday.
SHANGHAI, Nov 16- China's yuan weakened on Monday despite signs that it is almost certain to be included in the International Monetary Fund currency basket, as the dollar gained against major currencies. "The euro slipped after the Paris attacks and some investors turned to buy dollars," said a trader at a Chinese commercial bank in China. Even if was to be announced...
Julian Evans-Pritchard, China economist at Capital Economics, explains why the addition of the yuan to the IMF's SDR basket isn't that important to markets.
WASHINGTON— The head of the International Monetary Fund says she supports adding China to an exclusive club of the world's top currencies. Christine Lagarde said Friday that she supports findings by staff at the IMF that China's currency, the yuan, meets the criteria for inclusion in the basket of currencies used in the fund's operations.
WASHINGTON, Nov 13- China's yuan moved closer to joining other top global currencies in the International Monetary Fund's benchmark foreign exchange basket on Friday after Fund staff and IMF chief Christine Lagarde gave the move the thumbs up. "I support the staff's findings," she said in a statement immediately welcomed by China's central bank, which said it...