Connect to share and comment

Dollar up in Asia on US jobs data, Ukraine deal

The dollar rose in quiet Asian trade Friday, winning support from positive US jobs data and a deal between Russia and the West aimed at easing tensions in Ukraine. The greenback fetched 102.48 yen in Tokyo, up from 102.39 yen in New York Thursday while the euro drifted lower against the dollar to $1.3811 from $1.3813. The European single currency rose to 141.54 yen from 141.45 yen in US trade. But the dollar's rise against the yen could prove short- lived, dealers said.

Korean currency's volatility rises in Q1

SEOUL, April 17 (Yonhap) -- The daily volatility of the South Korean currency rose in the first quarter from three months earlier, affected by emerging market unrest, the central bank said Thursday. The average daily volatility of the local currency was measured at 4.9 won in the January-March period, compared with 3.4 won the previous quarter, according to the Bank of Korea (BOK). The volatility increased in tandem with fluctuations in the currencies of other emerging countries, it said.

US raises concern about China's currency but again avoids labeling Beijing a manipulator

WASHINGTON - The Obama administration is raising concern about the value of China's currency but is declining, as in recent years, to accuse Beijing of manipulating it. The administration also expressed concern Tuesday about South Korea's actions in currency markets and about countries that use the euro and have wide trade surpluses.

U.S. warns China its currency is still undervalued

By Patrick Temple-West and Jason Lange WASHINGTON (Reuters) - The Obama administration on Tuesday warned Beijing that its currency was too weak and expressed doubt over the Asian giant's resolve to let market forces guide the value of the yuan. In a semiannual report to Congress, the U.S. Treasury stopped short of declaring China a currency manipulator, but singled it out among large U.S. trading partners for its currency practices.

Canadian dollar's respite from slide unlikely to last

By Leah Schnurr (Reuters) - The Canadian dollar's respite from recent heavy selling will only be temporary as a sluggish domestic economy and a dovish central bank stance are expected to drag the currency lower, a Reuters poll released on Wednesday showed. Investors dumped the currency at the beginning of the year, and it weakened substantially against the greenback in the first quarter.

Tokyo stocks open flat

Tokyo stocks opened flat on Tuesday despite a Bank of Japan survey showing business confidence in the January-March quarter soared to a more than six-year high, as Japan ushered in its first sales tax hike in years. The benchmark Nikkei-225 index was down 0.01 percent, or 1.98 points, to 14,825.85 at the start before losing ground in the first hour of trading, dipping 0.27 percent by 0100 GMT. The BoJ's quarterly Tankan survey, released shortly before the market opened, surged to its highest level since December 2007.

Tokyo stocks open flat

Tokyo stocks opened flat on Tuesday despite a Bank of Japan survey showing business confidence in the January-March quarter soared to a more than six-year high, as Japan ushered in its first sales tax hike in years. The benchmark Nikkei-225 index was down 0.01 percent, or 1.98 points, to 14,825.85 at the start before losing ground in the first hour of trading, dipping 0.27 percent by 0100 GMT. The BoJ's quarterly Tankan survey, released shortly before the market opened, surged to its highest level since December 2007.

Swistzerland probes top banks for currency manipulation

Switzerland said Monday it was investigating a range of banks, including domestic leaders UBS and Credit Suisse along with top global houses, over suspicions they manipulated currency markets. The probe includes JPMorgan Chase, Citigroup, Barclays and Royal Bank of Scotland as well as the Zurich cantonal bank ZKB and private banking group Julius Baer, the Competition Commission (COMCO) said in a statement.

Switzerland probes top banks for currency manipulation

Switzerland said Monday it was investigating a range of banks, including domestic leaders UBS and Credit Suisse along with top global houses, over suspicions they manipulated currency markets. The probe includes JPMorgan Chase, Citigroup, Barclays and Royal Bank of Scotland as well as the Zurich cantonal bank ZKB and private banking group Julius Baer, the Competition Commission (COMCO) said in a statement.

Brazil will not change FX intervention program: source

SAO PAULO (Reuters) - The Brazilian central bank has no target level intended for its local currency and no plans to change its daily forex intervention program, a member of the government's economic team told Reuters on Wednesday. An initial partial sale of currency swaps - derivatives that provide hedges against currency losses - raised speculation on Wednesday that Brazilian policymakers could become less aggressive in their currency intervention as the real climbed to four-month highs.
Syndicate content