NEW YORK, Nov 27- The dollar rose across the board on Friday, hitting an eight-month high against a basket of currencies as speculation the Swiss National Bank would follow the European Central Bank in cutting deposit rates further pushed major competitors lower. The euro rebounded in afternoon U.S. trading to move back above $1.06 after falling near...» Read More
*China shares see biggest weekly drop in more than 3 months. "Miners are suffering from China and a stronger U.S. dollar outlook. There is clearly a risk that China will try and devalue the currency further, "said Ankit Gheedia, equity and derivative strategist at BNP Paribas.
LONDON, Nov 27- The euro held its ground above $1.06 on Friday, resisting pressure ahead of expected further cuts in euro zone interest rates next week in a session thinned out by the Thanksgiving weekend holiday in the United States. The European Central Bank is considering options including whether to stagger charges on banks hoarding cash, Reuters reported...
MOSCOW, Nov 27- Russia's central bank has decided to include the Chinese yuan in its foreign exchange reserves, TASS news agency reported on Friday, citing unnamed sources. A representative of the central bank declined to comment to Reuters. "We publish information about reserves with a half-year lag," the representative said.
*Euro finds some support at $1.0600, but still under a cloud. *U.S. trading to end early on Friday after Thanksgiving. TOKYO/ SYDNEY, Nov 27- The dollar, euro and yen stuck to familiar ground on Friday in thin trade after the U.S.
TOKYO/ SINGAPORE, Nov 27- Asian shares fell and the dollar held near an 8-1/ 2- month peak on Friday, while the euro hovered around seven-month lows on expectations of additional stimulus from the European Central Bank next week. The broadest index of Asia-Pacific shares outside of Japan slid 0.5 percent, extending losses for the week to 0.7 percent.
SHANGHAI, Nov 27- China's onshore yuan opened at its lowest level in almost three months on Friday, as investors braced for the International Monetary Fund's board meeting on Monday that is set to decide on the yuan's inclusion in its reserve basket. The People's Bank of China set the midpoint rate at 6.3915 per dollar prior to market open, weaker than the previous...
China's slowdown will be a long-term trend regardless of what the People's Bank of China does, says Dickie Wong, executive director of Kingston Securities.
The euro fell back towards seven-month lows against the dollar and shed ground against the yen as investors piled on bets against it.
BEIJING, Nov 26- China's central bank has tested bilateral currency swap operations with the European Central Bank, according to a notice posted on the People's Bank of China website on Thursday. The currency swap deal, signed in October 2013, totalled 350 billion yuan, or 45 billion euros, the bank said. Both operations were completed successfully and are a step...
While the yuan's inclusion in the SDR basket has little economic impact, what it symbolizes is important, explains Shane Oliver, head of investment strategy and chief economist at AMP Capital Investors.
The dollar rose after strong economic data further backed the case for the Federal Reserve to raise interest rates.
BEIJING, Nov 25- The first batch of foreign central banks, sovereign wealth funds and international financial institutions have been registered to enter China's interbank foreign exchange market, the country's central bank said on Wednesday. The seven institutions that have been registered include three central banks: Hong Kong Monetary Authority,...
The U.S. dollar edged down as investors piled into safe-haven currencies on concerns about rising tension between Russia and Turkey.
While the currency has been calm for a while, it will take much longer to fully stabilize as Beijing moves to make it more market-driven, says Choon Han Ching, investment manager and principal at Kriya Capital.
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.