Yen rises as political worries stoke safe-haven bids

TOKYO - The dollar was stuck near a one-week low against a basket of currencies early on Friday, after upbeat U.S. economic data failed to lift Treasury yields.

The dollar index against a group of major currencies stood at 100.570 after hitting 100.410, its lowest since Feb. 9 plumbed overnight when it slid 0.7 percent.

18/02/2017 10:41:46 AM | Posted in Currency News read full news

Dollar falls as traders weigh next U.S. rate hike

 NEW YORK - The dollar weakened against a basket of major currencies on Thursday, posting its steepest one-day drop in over two weeks, due to lower U.S. bond yields and uncertainty over the timing of the Federal Reserve's next interest rate increase. The greenback posted losses for a second day, retreating further from a one-month high set during a winning streak where

Struggling European banks see light at end of low-rates tunnel

By John O'Donnell and Maya Nikolaeva

FRANKFURT/PARIS - Rock-bottom interest rates hurt more big European banks in 2016 than in the previous year, but the worst could soon be over with the prospect of rising borrowing costs rippling from the United States to Europe.

Low rates, money printing and a penalty charge for hoarding cash have been at the hea

Dollar wallows near one-week low, policy concerns limit bounce

* Dollar index stuck near 1-week low

* Dollar sags after US yields brush off upbeat data and declines

* Uncertainty over Trump's policies seen capping the dollar

By Shinichi Saoshiro

TOKYO - The dollar was stuck near a one-week low against a basket of currencies early on Friday, after upbeat U.S. economic data failed to lift Trea

Chinese yuan strengthens

 The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 173 basis points to 6.8456 against the US dollar on Friday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 per cent from the central parity rate each trading day, Xinhua news agency reported.

US dollar declines amid rate-hike uncertainty

The US dollar ended lower against most major currencies amid uncertainties over the timing of Federal Reserve's next rate-hike.

In late New York trading on Thursday, the euro rose to $1.0669 from $1.0587 in the previous session, and the British pound climbed to $1.2490 from $1.2445 in the previous session, Xinhua news agency reported. 

The Australian dolla

Rupee slips 12 paise against US dollar

The Indian rupee was trading lower against its US counterpart on Thursday amid fund outflows by foreign funds and importers due to fresh demand for the American currency.

The US dollar strengthened against Asian currencies amid hopes that the newly elected President Donald Trump will keep his promise of a tax reform. At the Interbank Foreign Exchange Market, the local currency was tra

China`s overseas investment, property purchases slump as capital controls bite

By Yawen Chen and Elias Glenn

BEIJING - China's non-financial outbound direct investment (ODI) slumped in January and its offshore property purchases plunged after authorities tightened restrictions on capital outflows to support the ailing yuan currency and ease pressure on the country's foreign exchange reserves.

China's non-financial ODI

Dollar retreats from one-month peak tied to upbeat U.S. data

* Greenback hits 1-month peak after upbeat U.S. data * Dollar on best winning streak in daily terms since 2012 * Fed's Yellen offers no fresh clues on rates before lawmakers (New throughout, updates market activity, new byline, changes dateline, previous LONDON) By Richard Leong

NEW YORK - The dollar was flat on Wednesday as investors took profits after it re

Bank of England says to stick with animal-fat banknotes for now

LONDON - The Bank of England said on Wednesday it would keep using trace amounts of animal fat to make new plastic banknotes, as it would cost about 80 million pounds ($99 million) to switch back to paper and resolve vegetarians' and religious groups' concerns.

More than 130,000 people signed an online petition last year calling on the BoE to stop using a

U.S. rate hike prospects prop up German yields at one-week high

LONDON  - Europe's benchmark German bond yield hit a one-week high on Wednesday ahead of U.S. inflation data that could further increase what is still seen as an outside chance of an interest rate rise in the world's largest economy next month.

Fed chair Janet Yellen said on Tuesday that despite considerable uncertainly over economic policy under U.S. Pre

Dollar hovers near three-and-a-half-week high after Yellen testimony

TOKYO - The dollar held gains near a 3-1/2-week high on Wednesday after Federal Reserve Chair Janet Yellen signalled a faster pace of U.S. interest rate hikes.

Yellen told the U.S. Senate Banking Committee the central bank will likely need to raise interest rates at one of its upcoming meetings, although she expressed caution amid considerable uncertainty over ec

Euro zone Q4 growth revised down to 0.4 pct, December industry output drops

BRUSSELS - The euro zone economy grew less than initially estimated in the last quarter of last year as industrial output recorded the worst fall in more than 4 years in December, estimates from the European Union's statistics office Eurostat showed on Tuesday.

Eurostat said the gross domestic product (GDP) of the 19 countries sharing the euro bloc grew 0.4 percen

Bonds and rupee to witness measured weakness in FY18: India Ratings and Research

India Ratings and Research (Ind-Ra) has said that it expects overall yield curves to stay elevated. The expectation is against a backdrop of evolving unfavourable global conditions and limited role by the Reserve Bank of India (RBI).

However, the agency believes that the banking sector’s large appetite for government bonds will anchor interest rates in FY18. The 10-year benchmar

Singapore to open up non-bank finance companies to foreign M&As

SINGAPORE - Singapore will for the first time allow foreign takeovers of non-bank finance firms as part of steps to strengthen their financial resilience and operational flexibility, the central bank said on Tuesday.

"This will accord finance companies greater flexibility to explore strategic partnerships and innovative business models," the Monetary Au

Hopes of U.S. tax cuts lift dollar index to 3-week high

* Greenback hits two-week peak vs yen after Trump-Abe meeting * Investors await Yellen's testimony before Congress * Futures imply traders see 1 in 5 chance of March rate hike (Updates market action, adds quote)

By Richard Leong

NEW YORK - The dollar rose to a near three-week high against a basket of currencies on Monday, lifted by hopes of U.S. tax

Dollar edges lower as investors await Yellen testimony

* Yellen to testify to Congress on Tuesday, Wednesday

* Dollar edges down vs yen but well above last week's lows

* French election concerns continue to plague euro

TOKYO - The dollar edged away from three-week highs against a basket of currencies on Tuesday as investors awaited congressional testimony by Federal Reserve Chair Janet Yellen

Citing Trump and Brexit, EU sees euro zone economy risk, sharp drop in UK growth

By Francesco Guarascio and Jan Strupczewski

BRUSSELS - The European Commission said on Monday that uncertainty about U.S. policies, Brexit and elections in Germany and France would take their toll on the euro zone economy this year.

It forecast euro zone economic growth to lose some speed this year before rebounding in 2018. It saw a sharp growth drop a

Rupee slips below 67-mark ahead of CPI data

The Indian rupee was trading lower against its US counterpart on Monday amid fund outflows by foreign funds and importers due to fresh demand for the American currency. Weakness in Indian equity market also weighed on the home currency movement.

The investors also remained wary ahead of the consumer price inflation (CPI) data, which will be released after 5.30 pm today. At the Interba

Rupee retreats against US dollar

The Indian rupee was trading lower with marginal losses against its US counterpart on Friday amid fund outflows by foreign funds and importers due to fresh demand for the American currency. However, firmness in Indian equity market boosted the home currency movement. At the Interbank Foreign Exchange Market, the local currency was trading down by 03 paise to 67.02 per dollar from a previous clo

IMF sees no firm evidence that currency wars are nearing

WASHINGTON  - The International Monetary Fund does not see firm evidence that currency wars are nearing but would like to see Group of 20 major economies reaffirm their commitment to free and fair trade this year, IMF spokesman Gerry Rice said on Thursday.

"I don't see evidence of firm policy decisions made that would lead us to suggest that we're he

Germany wants G20 to keep language on trade, currencies, climate - sources

BERLIN/BRUSSELS  - Germany will press the Group of 20 to reaffirm its commitment to promoting free trade, resisting currency wars and fighting climate change when finance ministers meet next month for the first time since the election of Donald Trump, G20 sources said.

But the sources said there was far more uncertainty than usual surrounding the drafting of the

Rupee dream run continues against US dollar

The Indian Rupee extended rally greenback on Thursday as banks and exporters sustained selling of the dollar after the Reserve Bank maintained status quo in its sixth bi-monthly policy review. The fresh fund inflows by foreign portfolio investors in local equity and debt markets also supported home currency movement.

At the Interbank Foreign Exchange Market, the local currency was up

Rupee resumes rally against US dollar

The Indian Rupee resumed its rally greenback after a day break on Wednesday as banks and exporters sustained selling of the dollar as strong optimism prevailed in the market that the Reserve Bank may lower rate as easing inflation create room for a possible rate cut.

At the Interbank Foreign Exchange Market, the local currency was up by 11 paise to USD 67.42 per dollar from a previous

China global trade settled in yuan drops to more than 3-year lows - StanChart

HONG KONG - Cross-border trade settled in the Chinese currency plunged to the lowest levels in more than three years in December as stricter capital controls and fears of further weakness in the yuan dampened global interest in the currency.

The decline could mark a major setback for Beijing, which has tried to foster greater usage of the yuan in cross-border tra