The yen heads for its biggest weekly gain in more than a month against the dollar, on tensions in Ukraine and the Chinese economy.» Read More
A still fragile outlook for the European economy and strong US economic growth helped push the greenback up.
The euro hit a 7-week high versus the struggling dollar, weighed by soft data and news that foreign investors are selling US assets.
BEIJING, Feb 19- China will expand the yuan trading band in an orderly way and quicken convertibility on the capital account, the central bank said on Wednesday, reaffirming its long-standing stance. In a statement published on its website, www.pbc.gov.cn, the People's Bank of China also said it would steadily expand cross-border yuan usage.
BEIJING, Feb 19- China will expand the yuan trading band in an orderly way and quicken convertibilty on the capital account, the central bank said on Wednesday.
*China's central bank drains $7.9 bln from the market. *Alcoa to shut Port Henry aluminium smelter in Australia. LONDON, Feb 18- Copper rose on Tuesday as support from a strong euro helped cushion concerns about short-term demand in China after its central bank moved to tighten the money supply.
RIO DE JANEIRO/ LONDON, Feb 18- Emerging market stocks dipped on Tuesday, led by a drop in Chinese shares, while a fresh outbreak of violence drove Ukraine's currency towards five-year lows and weighed on its bond prices.
The yen weakened as the Bank of Japan extended loan programs in an attempt to get Japanese banks to lend more.
*China's central bank drains $7.9 bln from the market. *Alcoa to shut Port Henry aluminium smelter in Australia. LONDON, Feb 18- Copper was steady on Tuesday after a move by China's central bank to drain funds from the market offset a stronger euro versus the dollar.
SHANGHAI, Feb 18- China's yuan barely budged against the dollar on Tuesday, with caution over future prospects for emerging market currencies overshadowing positive foreign investment data.
Arthur Sinodinos, Assistant Treasurer of Australia, describes how the Australian stock exchange's yuan settlement service will bolster ties between the two nations.
The dollar slipped to a six-week low on Monday as soft U.S. economic data stood in contrast to better figures out of the euro zone and China.
*Sentiment supported as Wall St looks past soft US data. SYDNEY, Feb 17- Most Asian share markets edged higher on Monday in a nod to the resilience of Wall Street, but Japanese stocks struggled with both a stronger yen and a surprisingly weak reading on economic growth.
*Sentiment supported as Wall St looks past soft US data. SYDNEY, Feb 17- Asian markets could take heart on Monday after Wall Street managed to look past more soft U.S. data, though Japanese stocks will be pressured by a stronger yen as the dollar loses altitude.
German and French economic growth numbers helped boost the euro to a near three week high against a dollar weakened by soft U.S. data.
Recent announcements from the Fed have not pushed the dollar up as much as hoped, while the Aussie and the Swedish crown dived as well.
*No sign of heavy USD sales despite strong trade data. *Hot money inflows may have distorted trade data. SHANGHAI, Feb 13- China's yuan edged lower against the dollar on Thursday as traders reported lower-than-expected corporate dollar sales despite data showing an unexpectedly large trade surplus in January.
The dollar was steady ahead of Janet Yellen's testimony in Congress, while Norway's crown jetted almost 1 percent higher.
The dollar see-sawed after a weaker-than-expected U.S. jobs report on Friday.
Eswar Prasad, Senior Professor of Trade Policy at Cornell University, says that there are no viable contenders to replace the greenback as the world's reserve currency.
Global currency markets trod water ahead of interest rate decisions in Britain and the euro zone on Thursday.