The dollar recovered slightly against the yen on Monday, after suffering a setback late last week when subdued U.S. wage growth clouded the outlook over when U.S. interest rates were likely to rise.» Read More
The dollar fell against a basket of currencies on Friday, ending a decent month on a sour note.
The dollar rose to its highest level this week on Thursday after the U.S. Federal Reserve took another step towards raising interest rates.
Markets participants, however, say surging rates are likely to be short-lived as worries over yuan weakness may be overplayed and there is sufficient yuan liquidity in Hong Kong. Piling pressure on the yuan, China's State Council said on Friday it would liberalise yuan trading, among other measures, to support exports. "Following the sharp rebound in CCS, it is...
China's property market slump could hit the banks according to ratings agency S&P, in the latest warning to the world's second largest economy.
The euro whipsawed against the dollar on Wednesday after the Federal Reserves said it would leave interest rates unchanged.
Emerging market currencies were eyed by investors on Wednesday as weak oil prices, China's market pain and after the Federal Reserve left its interest rates unchanged.
Willie Chan, Asia regional strategist at Kim Eng Securities, attributes his bearish outlook for Chinese and Hong Kong equities to factors such as weak market sentiment.
SHANGHAI, July 29- Beijing may be struggling to put a floor under its tumbling stock market but it has managed to lock the yuan into an incredibly tight band against the dollar, despite pledging again to allow more exchange rate volatility. The cabinet said last week that Beijing would allow the yuan to fluctuate more to support weak exports.
The U.S. dollar rebounded against the euro and yen on Tuesday after traders took profits from gains in those currencies.
SHANGHAI, July 28- China's yuan held steady against the dollar on Tuesday after the central bank fixed its midpoint at a two-week high, in a sign that the government hopes to maintain currency stability amid sharp volatility in equities market, traders aid. Beijing typically tries to keep the yuan's exchange rate stable amid domestic and global market...
Callum Henderson, global head of FX research at Standard Chartered, says the yuan remains steady against the dollar on Tuesday after the central bank fixed its midpoint at a two-week high.
China's central bank said on Tuesday that it will use various monetary tools to maintain appropriate levels of liquidity in the year's second half.
A move to widen the yuan's trading band may trigger renewed volatility and further damage market sentiment, analysts warn.
The U.S. dollar hovered around a nearly two-week low against a basket of major currencies on Monday.
LONDON, July 27- Average daily volumes of trading in the currency markets fell back from record highs in the six months to April, digesting a shock decision by the Swiss National Bank to jettison a cap on the franc, a regular survey by the Bank of England showed. Daily trading in London, the world's main foreign exchange centre, was 8 percent lower at $2.48 trillion a...
Johanna Chua, head of Asia economics & market analysis at Citi, discusses the State Council's announcement that China will allow the yuan to trade in a wider range against the dollar.
The dollar rose against a basket of currencies on Friday in choppy trade.
The preliminary China Caixin PMI for July dropped to a 15-month low, with analysts pinning the hit on the recent stock market crash and weak export demand.
LONDON, July 24- The Australian dollar sank to a six-year low and other currencies closely related to global commodities prices were under pressure on Thursday after the worst reading on sentiment in Chinese manufacturing in more than a year. With the euro, yen and dollar in tight ranges, eyes were also on the yuan, China's long closely controlled currency, which...
BEIJING, July 24- China will widen two-way fluctuation in the yuan exchange rate to support its trade sector, the cabinet said on Friday, the latest efforts by the government to shore up the struggling economy. China will also study the introduction of products to help firms mitigate exchange rate risks, the State Council said in a statement on it website.