The euro struggled to hold above eight-month lows against the dollar on Friday, hurt by a dive in Germany's Ifo survey of business sentiment.» Read More
BEIJING, July 10- China will reduce its intervention in the currency market, Central Bank Governor Zhou Xiaochuan said on Wednesday, striking a conciliatory note in public about the yuan's value as he promised to free the interest rate market as planned.
The euro traded marginally stronger, with traders looking to a speech by ECB and minutes from the Fed meeting today.
BEIJING, July 9- China's finance minister on Wednesday defended the country's currency interventions, saying it was difficult to take a hands-off approach when it came to the yuan, given an unsteady economy and abnormal capital inflows.
Noel Quinn, Regional Head of Commercial Banking at HSBC, discusses the findings of its survey which showed a sharp increase in the use of yuan among global firms this year.
BEIJING, July 8- The United States pressed China to implement structural reforms in its exchange rate and to modify its "aggressive behavior" in disputed waters during a preliminary round of bilateral talks on Tuesday, senior U.S. officials said.
The outlook for central bank policymaking dominated attention in major currency markets on Tuesday, with the dollar rally already fading.
German industrial output fell 1.8 percent on the month in May, its biggest drop in more than two years, surprising most analysts.
The dollar struggled to make more headway after a jump in U.S. job creation left stock markets in optimistic mood.
The dollar was broadly bid on Thursday by a stronger-than-expected U.S. nonfarm payrolls report for June.
BANGALORE, July 3- Asian currencies will probably hold their ground until the end of the year and then weaken in early 2015 when a long-awaited U.S. dollar rally is expected to kick in, a Reuters poll of foreign exchange strategists showed.
*China allows banks to freely set OTC yuan/dollar rates. SHANGHAI/ BEIJING, July 3- China has permitted banks to freely set their own exchange rates for the yuan against the dollar in over-the-counter transactions-- another step toward freeing the exchange rate from government control.
The report boded well for Thursday's U.S. nonfarm payrolls report, and provided a boost to the dollar.
*China allows banks to set OTC dollar/yuan rates. *A small step in China's gradual forex reform. BEIJING, July 2- China will permit banks to set their own exchange rates for the yuan against the dollar in deals with clients, in a further step to relax controls to make the currency more market-driven.
BEIJING, July 2- China will permit banks to set their own exchange rates for dollar/yuan deals with their clients, relaxing controls in a bid to make the currency more market-driven. "This is a small step in China's foreign exchange reforms," said an analyst at state-owned Bank of China, the country's biggest foreign exchange bank, who asked not to be identified.
BEIJING, July 2- China is abolishing controls on the dollar/yuan exchange rate for banks when they deal with clients, the nation's foreign exchange regulator said on Wednesday. Effective on Wednesday, banks are allowed to set the dollar/yuan exchange rate based on market demand, the regulator said.
A UK factory survey adds to evidence that Britain's consumer-led recovery is becoming more balanced and sustainable.
The euro held near a six-week high against the dollar on Tuesday, threatening a break past $1.37.
*Yuan boosts China's globalisation programme. SHANGHAI, June 30- China's yuan rose against the dollar on Monday after hitting a two-week high in intraday trading as the central bank set a slightly stronger midpoint- signalling that the government is willing to keep the currency stable for now, traders said.
China shares have long been considered cheap for good reason, suffering a long downtrend, but some say now is the time to turn outright bullish.
The dollar looked set for a second week of losses on Friday, after a string of poor U.S. economic data that gave investors no reason to expect higher interest rates soon.