• Pound Falls to Lowest in Four Months on Brexit Chaos
    Bloomberg18 minutes ago

    Pound Falls to Lowest in Four Months on Brexit Chaos

    The pound fell for a record 13th day against the euro as Prime Minister Theresa May came under renewed pressure to step down after her new Brexit plan was roundly rejected. Sterling dropped to the lowest level in over four months against the dollar, after many of May’s lawmakers and the opposition Labour

  • Asian Central Banks Move to Curb Rapid Currency Declines
    Bloomberg2 hours ago

    Asian Central Banks Move to Curb Rapid Currency Declines

    Central banks across Asia are moving to defend their currencies from recent declines as escalating trade tensions between the U.S. and China weigh down exports and economic growth. Officials in Beijing, Seoul and Jakarta were among those taking steps on Wednesday to arrest weakness that’s affected

  • Yuan Ends Record Losing Streak as Central Bank Seen Stabilizing
    Bloomberg2 hours ago

    Yuan Ends Record Losing Streak as Central Bank Seen Stabilizing

    The Bloomberg replica of the CFETS RMB Index, which tracks the yuan versus a basket of 24 trading partners’ currencies, rose for the first time in sixteen sessions. The People’s Bank of China set its daily fix at 6.8992 a dollar on Wednesday. The central bank’s recent fixings have helped stabilize

  • Short Aussie, Long Yen Is the Hot New FX Bet for Trade War
    Bloomberg2 hours ago

    Short Aussie, Long Yen Is the Hot New FX Bet for Trade War

    Jeffrey Halley, a 30-year currency trading veteran and market analyst at Oanda Asia Pacific Pte, reckons the pair could fall below 70 in the next two months. “Aussie-yen is the best bellwether for risk-off,” said Sean Callow, senior currency strategist at Westpac Banking Corp. “I don’t see a quick resolution

  • Asia's Worst Currency Is in Taiwan as Foreign Funds Depart
    Bloomberg3 hours ago

    Asia's Worst Currency Is in Taiwan as Foreign Funds Depart

    The Taiwan dollar has tumbled 1.4% in the past five days, the biggest loss among regional peers and and second-worst in the world after the Colombian peso. Foreign funds have sold more than $2 billion of local equities in May, the biggest outflows in Asia, as the U.S. administration targeted China’s

  • Short-Dollar Trade Wiped Out as Tariff Wars Undermine Growth
    Bloomberg3 hours ago

    Short-Dollar Trade Wiped Out as Tariff Wars Undermine Growth

    As the Bloomberg Dollar Index hits a 2019 peak, a gauge that measures carry-trade returns from eight emerging markets, funded by short positions in the greenback, has given up its gains this year. “Emerging-market currencies are vulnerable to deterioration in the trade war,” said Salman Ahmed, chief

  • Yen, franc firm as trade tensions fester; pound sinks
    Reuters3 hours ago

    Yen, franc firm as trade tensions fester; pound sinks

    The Japanese yen and the Swiss franc firmed on Wednesday as risk appetite remained weak in the backdrop of festering trade tensions between the United States and China. While risky assets heaved a sigh of relief overnight after the United States eased trade restrictions on Chinese telecommunications

  • South Korea Holds Emergency Meeting on Startling Currency Drop
    Bloomberg3 hours ago

    South Korea Holds Emergency Meeting on Startling Currency Drop

    The authorities will hold a meeting soon to discuss trading that has distorted the currency market, according to a finance ministry official who asked not to be named citing policy. The currency has dropped too rapidly in a short period of time, and its weakness is excessive compared to fundamentals

  • TSX fails to get same lift as U.S. markets from easing of restrictions on Huawei
    The Canadian Press14 hours ago

    TSX fails to get same lift as U.S. markets from easing of restrictions on Huawei

    Canada's main stock index failed to match the stronger gains on U.S. markets after the Trump administration temporarily eased trade restrictions on Huawei Technologies. The S&P/TSX composite index closed up 24.72 points to a high for the day of 16,426.47, a day after the Canadian market was closed

  • Global stocks rally as U.S. eases Huawei restrictions
    Reuters15 hours ago

    Global stocks rally as U.S. eases Huawei restrictions

    The dollar rose and global equity markets advanced on Tuesday, led by chipmakers and companies exposed to Asia, after the United States temporarily eased trade restrictions on China's Huawei Technologies Co Ltd. Major European and Chinese stock indices rose after the Commerce Department late on

  • Baystreet15 hours ago

    TSX Fights Way into Green

    Markets in Canada’s largest centre struggled for most of the day, but finished in plus territory, as ...

  • Baystreet15 hours ago

    TSX Fights Way into Green

    Markets in Canada’s largest centre struggled for most of the day, but finished in plus territory, as ...

  • Dollar higher against euro, yen; Brexit drama whipsaws sterling
    Reuters15 hours ago

    Dollar higher against euro, yen; Brexit drama whipsaws sterling

    The U.S. dollar was higher against the euro and the yen on Tuesday in a day of risk-on trades after U.S. President Donald Trump temporarily eased curbs on China's Huawei Technologies Co Ltd. Wall Street and Chinese equities and emerging market currencies were all boosted by Trump's decision,

  • Baystreet19 hours ago

    Stocks Struggle on First Day Back from Long Weekend

    Canada’s main stock index fell Tuesday, led by losses in shares of precious metal miners, as gold prices ...

  • Baystreet19 hours ago

    Stocks Struggle on First Day Back from Long Weekend

    Canada’s main stock index fell Tuesday, led by losses in shares of precious metal miners, as gold prices ...

  • Baystreet19 hours ago

    Stocks Struggle on First Day Back from Long Weekend

    Canada’s main stock index fell Tuesday, led by losses in shares of precious metal miners, as gold prices ...

  • Baystreet21 hours ago

    TSX Stumbles at Outset

    Canada's main stock index fell at the open on Tuesday, led by losses in shares of precious metal miners, ...

  • Baystreet21 hours ago

    TSX Stumbles at Outset

    Canada's main stock index fell at the open on Tuesday, led by losses in shares of precious metal miners, ...

  • Baystreet21 hours ago

    TSX Stumbles at Outset

    Canada's main stock index fell at the open on Tuesday, led by losses in shares of precious metal miners, ...

  • Baystreet21 hours ago

    TSX Stumbles at Outset

    Canada's main stock index fell at the open on Tuesday, led by losses in shares of precious metal miners, ...

  • Baystreet21 hours ago

    TSX Stumbles at Outset

    Canada's main stock index fell at the open on Tuesday, led by losses in shares of precious metal miners, ...

  • Dollar holds awaiting signals on trade, Fed policy
    Reuters2 days ago

    Dollar holds awaiting signals on trade, Fed policy

    The U.S. dollar was roughly unchanged Monday as investors held off on making big moves while awaiting developments in U.S-China trade negotiations and insight into the Federal Reserve's thinking on interest-rate policy. "There is no clean single headline that you can point to that summarizes

  • A $19 Billion Test Is Coming Straight for China’s Battered Yuan
    Bloomberg2 days ago

    A $19 Billion Test Is Coming Straight for China’s Battered Yuan

    China’s yuan, already battered by the U.S. trade dispute, will soon have a catalyst for further depreciation. Offshore-listed Chinese companies will sell the yuan to buy foreign currencies and fund their $18.8 billion dividend bill due from June to August, according to Bloomberg calculations. While

  • Why Yuan at Seven Would Risk Further Inflaming Trade Dispute
    Bloomberg2 days ago

    Why Yuan at Seven Would Risk Further Inflaming Trade Dispute

    While analysts say the exchange rate is being driven by souring market sentiment as China’s economy slows and the U.S. ramps up tariffs, the slide towards 7 against the dollar comes during crunch trade negotiations. The nation has ample policy tools to cope with fluctuations in the currency market,

  • Singapore Dollar Is Slipping as Trade War Chips at Monetary Band
    Bloomberg2 days ago

    Singapore Dollar Is Slipping as Trade War Chips at Monetary Band

    Poor export data that landed Friday underscore the downward pressure on the currency’s nominal effective exchange rate, which has quietly crept away from the upper end of the band that monetary policy makers use to keep Singapore on an even keel. With no deal in sight between the U.S. and China, revised