Foreign Exchange
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LONDON, May 22- Concerns over the future of the U.S. The shift from riskier assets to safer markets was triggered when Fed Chairman Ben Bernanke told a congressional committee on Wednesday the central bank could scale back the pace of bond purchases at one of its next few policy meetings.
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TOKYO, May 23- The yen gained across the board on Thursday, bouncing sharply off a 4-1/ 2- year low against the dollar and notching up a two-week high against the euro after a whiplash move in stocks prompted investors to scramble for safety in Japanese bonds.
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*China factory activity shrinks in April- HSBC. SHANGHAI, May 23- China's yuan slipped against the dollar after the central bank signalled a pause on Thursday after the yuan climbed to record highs over the past two days.
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May 23- South Korea's economic problems aren't made in Japan. Investors convinced that Japan's weakening yen will help its companies claw global market-share back from Korean competitors have bought almost $75 billion worth of Japanese stocks so far this year.
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Greg Matwejev, Director, FX Hedge Fund Sales and Trading at Newedge says that the U.S. dollar will be the trade of the year.
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The dollar bounded up to a three-year high against a basket of major currencies in Asia on Thursday, squeezed higher after Treasury yields jumped after the Federal Reserve's comments.
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*Aussie approaches 1- year low after China factory activity drops. TOKYO/ SYDNEY, May 23- The dollar bounded up to a three-year high against a basket of major currencies in Asia on Thursday, squeezed higher after Treasury yields jumped on the prospect that the Federal Reserve might scale back its stimulus programme this year.
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*Ford to end Australia production in Oct 2016. Ford Australia will close its engine plant in Geelong and its vehicle assembly plant in Broadmeadows, both in Victoria state, with the loss of 1,200 jobs, Ford Australia Chief Executive Bob Graziano said on Thursday, the latest election-year blow to the struggling Labor government.
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*Fast Retailing jumps as retail investors in hot pursuit. TOKYO, May 23- Japan's Nikkei average soared 1.9 percent to a 5-1/ 2- year high on Thursday, aided by exporters as the yen weakened against the dollar after the U.S. The Nikkei Honda Motor Co, Canon Inc, TDK N225> was up 303.11 points to 15,930.37 after trading as high as 15,942.60, its best mark since December 2007.
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TOKYO, May 23- Japan's Nikkei average scaled fresh 5-1/ 2- year highs on Thursday, aided by currency-sensitive exporters as the yen weakened against the dollar after U.S. Federal Reserve chief suggested the central bank could scale back stimulus in coming months.
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*HSBC's early report on China's factory sector next in focus. SYDNEY, May 23- The dollar hovered at a near three-year high against a basket of major currencies in Asia on Thursday, having risen broadly as Treasury yields jumped on the prospect that the Federal Reserve might scale back its stimulus programme this year.
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NEW YORK, May 22- The dollar rose to a 4-1/ 2- year high against the yen and a near three-year peak against a currency basket on Wednesday after Federal Reserve Chairman Ben Bernanke stoked speculation the U.S. central bank could slow its asset buying in coming months.
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NEW YORK, May 22- The dollar rallied to a 4-1/ 2- year high against the yen and a near three-year peak against a currency basket on Wednesday after Federal Reserve Chairman Ben Bernanke stoked speculation the U.S. central bank could begin slowing its asset buying in coming months.
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The dollar rallied to trade at a fresh 4 1/2-year high against the yen after Fed Chairman Ben Bernanke warned that holding interest rates too low for too long has its risks.
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*Dollar rallies after Bernanke testifies to Congress. *BOJ upgrades economic assessment, stands pat as expected.
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LONDON, May 22- The dollar shed some of its recent gains against a basket of currencies on Wednesday as investors trimmed their bets on the currency before testimony from the U.S.
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CNBC's Ross Westgate reports on all the market moving events from Europe, as investors look for signs from the Fed's Bernanke on whether the current stimulus program will be tapered.
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LONDON, May 22- The dollar shed some of its lofty gains against a basket of currencies on Wednesday, as investors trimmed favourable bets before testimony from the U.S. Ben Bernanke will deliver his testimony to Congress at 1400 GMT and is expected to strike a somewhat optimistic view of the economy.
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TOKYO, May 22- The dollar hovered some way below last week's 4-1/ 2- year high against the Japanese currency, after being dampened by hints from two U.S.
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SYDNEY, May 22- Asian stocks rose on Wednesday following a positive lead from Wall Street with Japan's Nikkei reaching a 5-1/ 2 year high, while the yen took a defensive stance ahead of the outcome of the Bank of Japan's policy meeting. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, reversing some of Tuesday's 0.4 percent decline.