The dollar inched up against the yen ahead of meetings at the Bank of Japan and the Fed which investors expect to be dollar-positive. » Read More
There are good investing opportunities in the previously oversold Japanese market and U.S. banks, notes Manulife Asset Management's Geoff Lewis.
MOSCOW, July 4- Russia's central bank started buying Chinese yuan-denominated assets in the fourth quarter of last year as part of its drive to diversify its foreign-currency reserves. A central bank spokeswoman said yuan assets did not yet count as part of Russia's official gold and forex reserves, since the International Monetary Fund has not yet given the...
The Aussie recovered from a wobbly start as commodities rose on expectations that central banks are likely to provide more stimulus.
*Forex reserves seen easing to $3.17 trln from May $3.19 trln. BEIJING, July 4- A flurry of data from China in coming weeks is expected to show continued weakness in trade and investment, sluggish industrial output and another drop in foreign reserves, reinforcing views that Beijing will roll out more economic support measures soon. Weak factory surveys and...
The Bank of Israel bought "hundreds of millions" of dollars of foreign currency, dealers said, after the shekel continued to strengthen.
China has suffered from outflows from its foreign reserves for months. Goldman Sachs and Standard & Poor's can't agree why.
S&P Global Ratings' Paul Gruenwald says London was actually China's European offshore center for the renminbi but that could change post-Brexit.
The U.S. dollar tumbled against the safe-haven yen Friday amid uncertainty over the fallout from Britain's vote to exit the EU.
SHANGHAI, July 1- The yuan closed weaker against the dollar on Friday, touching a fresh 5-1/ 2- year low on concerns that the central bank would tolerate a further weakening of the currency to support the slowing economy. The spot market officially winds up trading at 4:30 pm Shanghai time, with the PBOC announcing the close. "There was no signs that the PBOC was...
China's twin PMIs were concerning, but the economy is expected to accelerate as the yuan depreciates, says Complete Intelligence's Tony Nash.
China's manufacturing data were disappointing, and Beijing will likely have to introduce fiscal stimulus and cut interest rates, says Commerzbank's Hao Zhou.
Manufacturing momentum in the world's number two economy skidded to a four-month low in June, according to twin surveys released on Friday.
If Beijing really wanted to weaken the currency, the downward moves would be more significant, says Fraser Howie, an independent analyst.
The British pound traded more than 1 percent lower after Mark Carney, the head of the Bank of England, made remarks about the U.K. economy following the Brexit vote.
NEW YORK, June 30- The dollar edged higher against sterling and the euro on Thursday after two straight days of declines as investors became more cautious ahead of political announcements in Britain following the country's vote to exit the European Union. Former London Mayor Boris Johnson, who was bookmakers' runaway favorite to become Britain's prime...
LONDON, June 30- China's yuan hit its weakest level in six months against the dollar in offshore markets on Thursday, hurt by signs from policy sources that Beijing may be willing to see it fall to 6.80 per dollar. That knocked offshore rates for the yuan to as high as 6.70 as London traders came on line, and pushed the Australian dollar almost 1 percent lower on the day.
*Chinese sources tell Reuters PBOC would accept 6.80/ dollar. LONDON, June 30- China's yuan sank to a six-month low against the dollar in offshore trade on Thursday and the Australian dollar fell almost one percent after Reuters reported the People's Bank of China is willing to let the Chinese currency weaken to 6.80 per dollar. "The Aussie and the yuan have just...
The central bank will aim to ensure a gradual decline to prevent the sort of capital outflows that shook the economy earlier this year.
BEIJING/ SHANGHAI, June 30- China's central bank is willing to let the yuan fall to 6.8 per dollar in 2016 to support the economy, which would mean the currency matching last year's record decline of 4.5 percent, policy sources said. The yuan is already trading at its lowest level in more than five years, so the central bank will aim to ensure a gradual decline for fear...
The euro and sterling spiked higher, as markets regained some appetite for risk.