BEIJING— China's yuan has become of the five most widely used currencies in global payments, an international financial transactions agency announced Wednesday. Beijing is gradually easing controls on the yuan and encouraging its use abroad in an effort to reduce costs for its traders and increase Chinese companies' role in the global economy.» Read More
European shares suffered their biggest daily drop this month after gloomy earnings and weak U.S. economic data hit sentiment on Wednesday and left some positioning for further falls in the near-term.
The euro lifts on improving economic sentiment and the dollar edges higher awaiting GDP - it's time for your FX Fix.
Asian stocks closed higher on Wednesday, with investors shifting their focus to corporate earnings in the region and the Federal Reserve's policy announcement later in the day.
The euro scaled 14-month peaks against the dollar, gaining in three of the last four sessions, lifted by an improving euro zone outlook and expectations the Federal Reserve will keep its ultra-easy monetary policy for some time.
Asian shares rose on Tuesday as recent selling drew bargain hunters ahead of more U.S. economic data and a Federal Reserve policy decision later in the week.
The dollar fell from 2 1/2-year peaks against the yen on Monday in subdued trading as investors locked in profits after the greenback's recent rally.
European equities touched fresh multi-month peaks on Monday, with technical charts pointing to a continued slow grind higher.
Japan's Nikkei breached the 11,0000 mark briefly as the yen continued to weaken.
China's central bank is signaling it is abandoning its traditional role in the domestic currency market as the ready supplier of liquidity, forcing corporations to bear more risk so that they learn how to cope with a more volatile yuan.
The euro rallied Friday on growing optimism the region's debt crisis has turned the corner, while the yen was headed for its 11th consecutive week of losses.
Asian shares ended mixed on Friday, dragged lower by a drop in regional technology stocks, although gains in Australia and Japan contained overall losses for equities.
The yen tumbled 2 percent against the dollar to hit a 2 1/2-year low on Thursday after a Japanese official said the government has no problem with the dollar hitting 100 yen.
European shares closed higher Thursday, with the market taking direction from an opening rise on Wall Street where the S&P 500 hit the 1,500 mark for the first time since December 2007.
Asian shares were mixed on Thursday after manufacturing data from China confirmed a recovery was on track, easing nervousness caused by a sharp drop in Apple shares.
The yen was little changed against the dollar on Wednesday one day after a sharp rally, and traders appeared ready to resume selling the yen.
The yen pushed higher against the euro and dollar on Wednesday, extending gains from the previous day, when monetary easing from Bank of Japan fell short of some expectations for faster, more aggressive action.
Asian shares retreated from multi-month highs on Wednesday amid caution as the earnings season gathers pace, with Tokyo stocks falling to three-week closing lows.
The yen soared 1 percent against the dollar and euro on Tuesday after the Bank of Japan said its open-ended commitment to buy assets would kick in only next year.
U.S. Treasury debt prices were trading little changed as a U.S. Republican proposal for a limited rise in the debt ceiling curbed demand for safe-haven assets.
European shares closed flat on Tuesday as shares of Deutsche Bank weighed heavily on Germany's DAX Index after rumors that the German financial sector regulator had asked it to simulate a split of investment banking and retail operations.