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European stocks rise; dollar strikes 101 yen before G7

Agence France-PresseMay 11, 2013 18:19
Europe's main stock markets rose on Friday and the dollar surged to a new four-year high above 101 yen, boosted by upbeat US labour market data and before a key G7 finance meeting. Traders were also awaiting a speech from US Federal Reserve chief Ben Bernanke. In early afternoon deals, London's benchmark FTSE 100 index of top companies advanced 0.57 percent to 6,630.50 points, Frankfurt's DAX 30 gained 0.65 percent to 8,315.30 points and in Paris the CAC 40 was up 0.59 percent at 3,932.97.

Tokyo's Nikkei index up over 3% after dollar tops 100 yen

Agence France-PresseMay 10, 2013 12:29
Tokyo stocks jumped more than three percent Friday morning following the dollar's surge past the 100 yen mark overnight, underscoring the Japanese currency's sharp decline in recent months. The benchmark Nikkei 225 index rose 3.09 percent, or 438.99 points, to 14,630.47 in mid-morning trading, while the broader Topix index of all first-section shares was up 2.26 percent, or 26.70 points, to 1,208.50.

China targets hot money inflows with new forex rules

May 8, 2013 17:25
By Gabriel Wildau SHANGHAI/BEIJING (Reuters) - China has released new rules to curb currency speculation amid signs that hot money inflows have helped push the yuan to a series of record highs in recent weeks. The rules tighten limits on long yuan positions that banks can hold for their own accounts and aim to discourage firms from using dollar loans as a means to speculate on yuan gains.

Major Chinese bank shuts account of N. Korea's main forex bank

Kyodo News InternationalMay 7, 2013 12:30
Bank of China has shut the account of North Korea's main foreign exchange bank and halted transactions with it, Reuters news agency reported Tuesday, quoting a statement issued by the major Chinese bank. China's largest foreign exchange bank gave no reason for the closure of the account of North Korea's Foreign Trade Bank, but the move may be among Beijing's sanctions on Pyongyang for its long-range missile launch and its third nuclear test, both in violation of U.N. Security Council resolutions.

Australia central bank to buy China bonds

Agence France-PresseApril 24, 2013 04:46
Australia's central bank announced plans Wednesday to invest Aus$2 billion of its reserves in Chinese government bonds, building on recent moves to begin direct trade of the two nations' currencies. Reserve Bank of Australia (RBA) deputy governor Philip Lowe said the decision represented the "first time that the RBA will have invested directly in a sovereign bond market of an Asian country other than Japan". "Our current intention is to hold around five percent of Australia's foreign currency assets in China," Lowe said of total reserves worth some Aus$38 billion.

Dollar, yen rise on global growth worries

Agence France-PresseApril 23, 2013 18:00
The dollar and the yen climbed Tuesday after weak data in the eurozone and China's slowdown stoked concerns about the health of the global economy. The euro was under pressure after the Markit survey showed private-sector activity in the bloc remained in contraction in April. The reading for Germany, Europe's biggest economy, fell for the first time since November. The euro bought $1.2997 at 2100 GMT, down from $1.3059 at the same time Monday. It also fell against the Japanese currency, to 129.30 yen from 129.56 yen late Monday.

Yen up in Asia but traders say slide to resume

Agence France-PresseApril 23, 2013 02:00
The dollar retreated against the yen in Asian trade Tuesday, but dealers said it remained on course to break the 100-yen mark after G20 nations gave the green light to aggressive stimulus by Japan. The dollar fetched 98.81 yen in Tokyo afternoon trade, down from 99.35 in New York late Monday. The dollar last hit 100 yen in April 2009. The euro also eased to 128.91 yen from 129.77 in US trading. And the single European currency fetched $1.3045 from $1.3062 in New York.

Asian markets hit by weak China data, strong yen

Agence France-PresseApril 22, 2013 23:45
Asian shares fell on Tuesday as fresh data showed Chinese manufacturing weakening further this month, while Japan's Nikkei succumbed to profit-taking and a pick-up in the yen. The latest figures from China add to growing concerns about the world's number two economy and crucial driver of global growth following last week's worse-than-forecast gross domestic product results. Shanghai slipped 1.36 percent and Hong Kong was 0.65 percent lower, while Tokyo was down 0.28 percent by the break and Seoul fell 0.63 percent. But Sydney rose 0.90 percent.
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