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Currencies Chinese Yuan


  • LONDON, Aug 11- Aluminium hit a six-year low and other base metals also slumped on Tuesday after China devalued its currency, fuelling worries about a glut of aluminium and boosting the cost of commodities for the world's top metals consumer. "The devaluation will make commodities more expensive for China to import, so I would imagine that is the main reason for...

  • LONDON, Aug 11- Gold rose more than one percent on Tuesday as the dollar cut gains and European stocks fell and investors assessed the impact of China's move to devalue its currency and prop up its economy. China's rate decision triggered a sharp but short-lived retreat in gold to a session low of $1,093.25 an ounce. "Gold's best moment this year came in the first few...

  • *Stocks fall in Asia and Europe. LONDON, Aug 11- China's surprise 2 percent devaluation of the yuan on Tuesday pushed the dollar higher and raised the prospect of a new round of currency wars, just as Greece reached a new deal to contain its debt crisis. Stocks fell in Asia and Europe as investors worried about the implications of the move to support China's slowing...

  • *China sharply devalues currency, yuan sinks to 3- year low. *Australian and NZ dollars hit by China move. The currencies of some of countries that do much of their trade with China, such as the Australian and New Zealand dollars, were also dragged down by the move, shedding as much as 1.3 percent at 1 percent respectively against their U.S. counterpart.

  • *Konecranes shares surge on Terex merger plan. LONDON, Aug 11- European shares retreated on Tuesday, with carmakers and luxury goods stocks among the worst performers after China devalued its yuan currency. However, the Athens stock market- which has consistently underperformed this year due to concerns over Greece's debt problems- rose after Greece and its...

  • HONG KONG, Aug 11- China's surprise devaluation caused shock waves in global currency markets on Tuesday, with investors fearing it could put sustained pressure on offshore yuan and debt sold overseas by Chinese firms. "We haven't sold any dim sum bonds after the move as the FX loss is already there and there's nothing we can do," said a bond fund manager in Hong Kong...

  • SINGAPORE, Aug 11- Some of Asia's most interventionist central banks are for now holding their nerve on currency policy after a major devaluation in the currency of one of their top trading partners, China. Even as market participants pushed the yuan down further to test a 2- percent daily limit, policymakers from South Korea, India, Indonesia and Japan said they...

  • China bonded premiums for zinc, nickel rise. MELBOURNE, Aug 11- London fell on Tuesday as China devalued the yuan to help revive the country's exports following weak data at the weekend, dousing a rally the day before when it logged its biggest one-day gain in a month on bets of more stimulus. China's leaders are under growing pressure to stimulate further after...

  • TOKYO, Aug 11- Japanese government bond prices were mostly higher on Tuesday, buoyed by solid demand at a sale of 30- year bonds as well as risk aversion by investors after China devalued its currency. Asian share markets dropped and safe-haven bond prices got a lift after China's central bank unexpectedly devalued the yuan by nearly 2 percent.

  • LONDON, Aug 11- European shares retreated on Tuesday, with carmakers and luxury goods stocks among the worst-performers after China devalued its yuan currency. China is an important export market for European luxury goods companies and carmakers, and shares in those two sectors were among the hardest hit in the wake of the yuan devaluation.

  • Now's not the time to buy emerging market fixed income Tuesday, 11 Aug 2015 | 3:00 AM ET
    Now's not the time to buy emerging market fixed income

    Bryn Jones, head of fixed income at Rathbones, discusses the Chinese Yuan move and how it may benefit the auto industry.

  • China is doing what it needs to do: Strategist Tuesday, 11 Aug 2015 | 12:49 AM ET
    China is doing what it needs to do: Strategist

    Heng Koon How, senior FX strategist at Credit Suisse PBWM, says the People's Bank of China is compelled to depreciate the yuan following recent weak data and the turmoil in the financial markets.

  • SHANGHAI, Aug 11- China devalued the yuan on Tuesday after a run of poor economic data, guiding the currency to its lowest point in almost three years in a move it billed as free-market reform. Data released at the weekend showed that China's exports tumbled 8.3 percent in July, hit by weaker demand from three huge trading partners- Europe, the United States and Japan.

  • For Fed, weaker yuan will be a 'fleeting concern': Pro Tuesday, 11 Aug 2015 | 12:04 AM ET
    For Fed, weaker yuan will be a 'fleeting concern': Pro

    While the Fed may have a "kneejerk reaction" toward Beijing's depreciation of the yuan, worries over a stronger dollar will be short-lived, says Vishnu Varathan, senior economist at Mizuho Bank.

  • How China is impacting Singapore's growth Monday, 10 Aug 2015 | 11:43 PM ET
    How China is impacting Singapore's growth

    Taimur Baig, chief economist, Asia at Deutsche Bank, discusses how the slowdown in China's economy and the devaluation of the yuan are affecting Singapore.

  • UPDATE 1-Oil prices fall after China devalues yuan Monday, 10 Aug 2015 | 11:15 PM ET

    SINGAPORE, Aug 11- Oil prices slumped on Tuesday following a jump in the previous session, as China devalued its yuan currency following a run of poor economic data that underscored the market view that fundamentals are too weak to warrant higher oil prices. China devalued the yuan on Tuesday in what its central bank called a "one-off depreciation" of nearly 2...

  • *China sharply devalues currency, yuan sinks to 3- year low. *Aussie hit by China move, U.S. dollar rebounds vs euro. With fears of an economic slowdown mounting, devaluating the yuan was the only thing China had not tried after implementing monetary, fiscal and equity-boosting policies, "said Masafumi Yamamoto, senior strategist at Monex in Tokyo.

  • Gold had biggest gain since June on Monday. MANILA, Aug 11- Gold dropped on Tuesday as the dollar strengthened after China devalued its currency to prop up its economy, adding to the downward pressure on bullion from a looming increase in U.S. interest rates. Gold had slipped 0.6 percent to $1,097.46 an ounce by 0251 GMT, after rising as high as $1,108.80 overnight,...

  • The key focus for the yuan moving forward Monday, 10 Aug 2015 | 11:07 PM ET
    The key focus for the yuan moving forward

    Richard Yetsenga, head of global markets research at ANZ, says the key focus for the Chinese yuan moving forward is how the central bank will allow the spot rate to move.

  • *China's devaluation triggers knee-jerk profit-taking. *China- related shares outperform, steelmakers top gainer. TOKYO, Aug 11- Japan's Nikkei share average edged down on Tuesday, erasing its earlier rise to near its 18 1/ 2- year high hit earlier this year, as investors took profits after the Chinese central bank devalued the yuan.