The dollar lost ground against the yen and the euro as global stock markets began the week in the red, prompting investors to trim bets.» Read More
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...
A bronze sculpture in China showing a bull firmly pinning a bear to the ground has garnered swift attention in the country.
*Market rebounds on cut in China rates, reserve requirements. NEW YORK, Aug 25- Markets rebounded on Tuesday with world stocks, oil prices and bond yields all rising after China cut interest rates and banks' reserve requirements in a bid to kick-start its wavering economic growth. The dollar turned around Tuesday to rise 1.2 percent against a basket of major...
The dollar rose on Tuesday, earning a breather from a slide to seven-month lows against the yen as U.S. Treasury bond yields climbed higher.
Adi Godrej, chairman of Godrej Group, says the benefits of a cheaper import bill for palm oil due to recent sharp falls in the ringgit and rupiah offset the negative currency impact on its consumer product business in Indonesia.
Apart from China-related fears, the possibility of an interest-rate hike in the U.S. also contributed to the global market meltdown, says Uwe Parpart, MD & Head of Research at Reorient Financial Markets.
The euro hit a 6 1/2-month high and the yen struck a peak against the dollar as investors flocked to safe haven currencies.
Following calls for parity against the dollar just a few months ago, the single currency is now one of the few assets in the world rallying.
NEW YORK, Aug 24- U.S. The global stock market rout began after Beijing surprised investors on Aug. 11 when it devalued the yuan, a move that sparked fears about a "currency war" in which nations seek to make their exports cheaper against their trading partners. "The China devaluation opened up Pandora's Box.
Jason Thomas, The Carlyle Group, shares his thoughts about systemic risk in China and the broader issues it indicates about the economy. And CNBC's Michelle Caruso-Cabrera adds insight.
*Shanghai stocks lose 9 pct, lack of steps from Beijing disappoints. Safe-haven government bonds and the yen and the euro rallied as widespread fears of a China- led global economic slowdown and currency war kicked in. "It is a China driven macro panic," said Didier Duret, chief investment officer at ABN Amro.
Users posted thousands of anguished comments on Weibo, the popular Chinese social media platform, as the country's indices plunged.