SHANGHAI, Aug 28- China's yuan rose sharply against the dollar on Friday, with traders citing large transactions by state-owned banks on behalf of the central bank to support the currency. "There were clear signs that the central bank was continuing intervening in spot trading to support the yuan," said a dealer at a major European bank in Shanghai.
After reporting a 14.5 percent rise in half-year revenue, Joe Perkins, CFO of Hong Kong-listed Nexteer Automotive, explains why the firm's future is looking even brighter ahead.
The dollar advanced for a third consecutive session on Thursday, bolstered by data showing a much stronger U.S. economy.
Derek Halpenny, European head of global markets research at Bank of Tokyo-Mitsubishi, talks about foreign exchange markets and the prospects for the dollar and the yuan.
BEIJING, Aug 27- China's devaluation of its yuan currency should not be made a scapegoat for the recent global stock market rout, a senior Chinese central bank official told Reuters on Thursday. "China's exchange rate reform had nothing to do with the global stock market volatility, it was mainly due to the upcoming U.S. Yao's comments, which came on the same day that...
Peter Navarro, UC Irvine economics professor, shares his bearish outlook for China.
Tom White, Thomas White International, shares his bullish outlook on China's stocks and economy.
Geoffrey Yu, FX strategist at UBS, says the Federal Reserve wants to make sure the U.S. dollar isn't "too much of an impediment" in terms of the U.S. recovery.
LONDON, Aug 27- European shares rose on Thursday, buoyed by gains on Asian and U.S. markets after a leading U.S. central bank official said the prospect of a September rate hike seemed "less compelling" than before. Persistent fears about an economic slowdown in China, which intensified after China devalued its yuan currency earlier in August, have rattled...
Tai Hui, chief Asia market strategist at J.P. Morgan Asset Management, says the moves by China's central bank this week are targeted at addressing economic headwinds, instead of the market turmoil.
The dollar rallied for a second straight session on Wednesday.
Kazakhstan unshackled its tenge last week, and bets are growing that from Hong Kong to Saudi Arabia, dollar pegs are at risk. "Markets are now questioning the sustainability of other dollar pegs, wondering which will be the next domino to fall," Deutsche Bank told clients. Justifying the cost of clinging to them will become increasingly difficult for those reliant...
Kenneth Rogoff, Harvard University, explains why China's shadow banking system is likely to get a lot worse.
Kenneth Rogoff, Harvard University, provides insight to China's financial crisis.
We are having a crisis of confidence among investors, says Jing Ulrich, JPMorgan Chase, discussing China's attempts to stabilize financial markets.
Martin Sorrell, CEO of WPP, talks about China's economy and the reaction to Chinese market turmoil.
Andrew Sheets, chief cross-asset strategist at Morgan Stanley, discusses the impact China's devalued currency will have on international companies.
*Dollar gains after Shanghai shares rise on China policy easing. TOKYO, Aug 26- The dollar edged up against the euro and yen on Wednesday, as China's policy easing steps halted a slide in the region's equity markets and prevented a further worsening in risk sentiment for now. It managed to pull away from a seven-month low of 116.15, after China's central bank cut...
*Dollar trims gains made in knee-jerk reaction to China easing. *Shanghai stocks drop despite China steps. TOKYO, Aug 26- The dollar was subdued against the euro and yen on Wednesday, losing its bounce as already fragile risk sentiment weakened once it became clear that China's policy easing steps had failed to shore up battered Shanghai shares.
*China's devaluation upsets Asia's gentle depreciation. SINGAPORE, Aug 26- Faced with falling exports and deflation risks, it suited much of Asia to let their currencies drift lower, until China's abrupt devaluation triggered a tide of volatility that is upsetting not just their currency management but also their growth strategies. China's 2 percent...