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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.

Euro-dollar flat as Yellen reiterates cautious Fed view

The US dollar overcame early losses Wednesday to end flat against the euro while the yen slipped back as Janet Yellen underscored the Federal Reserve's cautious path forward. At 2100 GMT the euro was at $1.3815, compared to $1.3813 late Tuesday. During the day it rose as high as $1.3851 before succumbing to selling. Helping the dollar's rebound was confident talk from the Federal Reserve on growth slowly picking up after a harsh winter.

Loonie lower as Bank of Canada leaves rates unchanged, lowers growth forecast

TORONTO - The Canadian dollar closed lower Wednesday after the Bank of Canada said it was keeping its key rate unchanged and cut its forecast for first-quarter economic growth. The loonie was off 0.34 of a cent to 90.76 cents US as the bank left its key rate at one per cent, where it's been since September 2010. The bank also lowered its forecast for first quarter growth this year to 1.5 per cent, from 2.5 per cent, but attributed the downgrade mostly to temporary impacts of a unusually severe winter.

European stocks rebound to end higher

European stock markets rallied on Wednesday despite high tension over the Ukraine crisis, heartened by strong company earnings, Chinese growth data and a positive start on Wall Street. Shares had ended sharply lower on Tuesday as the escalating military crisis in Ukraine spooked investors, traders said. But news that China, the world's second-largest economy, is growing faster than expected set a hopeful tone in Europe, which was bolstered by upbeat earnings reports.

European stocks rebound, despite Ukraine crisis

European stock markets rallied on Wednesday despite high tension over the Ukraine crisis, but heartened by strong company earnings, Chinese growth data and a positive start on Wall Street. Shares had ended sharply lower on Tuesday as the escalating military crisis in Ukraine spooked investors, traders said. In mid-afternoon trading, London's FTSE 100 climbed 0.44 percent to stand at 6,570.25 points compared with Tuesday's closing level, as the benchmark shares index benefited also from official data showing British unemployment had reached a five-year low point.

US Treasury warns China over recent yuan fall

The US Treasury said Tuesday that China cannot be ruled a manipulator of its currency despite the yuan's sharp slide since January. But the Treasury warned that the recent fall could "raise particularly serious concerns" if it represents a reversal in Beijing's commitment to a more free-floating yuan.

Hong Kong shares end 0.11% higher

Shares in Hong Kong and Shanghai edged up on Wednesday after China released data showing the economy grew slightly more than expected in the first three months of the year. The benchmark Hang Seng Index edged up 0.11 percent, or 24.75 points, at 22,696.01 on turnover of HK$54.49 billion (US$7.03 billion). Traders were given an upbeat lead from Wall Street following upbeat corporate from Yahoo and chip giant Intel. The Dow ended up 0.55 percent, the S&P 500 jumped 0.68 percent and the Nasdaq added 0.29 percent.

China Southern Airlines warns of Q1 loss

China Southern Airlines, the country's largest carrier by fleet size, warned of a loss of more than $50 million in the first three months of the year as it was hit by exchange losses cause by a weaker yuan. In a filing to the Hong Kong Stock Exchange the firm said it would lose 300-350 million yuan ($48.2-$56.3 million) in January-March. That compares with a net profit of 57 million yuan in the same period last year, the filing said.

China denies U.S. warning of undervalued currency

By Megha Rajagopalan and Patrick Temple-West BEIJING/WASHINGTON (Reuters) - China rejected on Wednesday a warning from the Obama administration that its currency was too weak, urging the United States to recognize that China aims to "perfect and regulate" the exchange rate system. The Obama administration on Tuesday warned China 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.

Yen weakens in Asia as buoyant stocks boost sentiment

The yen weakened in Asia on Wednesday as the head of the Bank of Japan said the country was on target to meet its inflation target next year while buoyant equity markets lifted investor sentiment. In Tokyo afternoon trading, the greenback fetched 102.19 yen, up from 101.94 yen on Tuesday in New York, as traders moved out of the Japanese unit which is seen as a safe haven during times of turmoil and uncertainty. The euro also rose to 141.27 yen from 140.80 yen, while the single currency fetched $1.3824 against $1.3813 in US trade.
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