Currencies

Dollar trades in upper 119 yen zone in early Tokyo deals

TOKYO (Kyodo) -- The U.S. dollar traded in the upper 119 yen zone in Tokyo early Wednesday, little changed from its levels overnight in New York. At 9 a.m., the dollar fetched 119.63-64 yen compared with 119.70-80 yen in New York and 119.78-80 ye...

  • Monetary policy

    As US, Japan diverge, yen in for rough ride

    TOKYO -- In the first two months of the year, the yen has traded between 115 and 120 against the dollar. As was the case last year, developments in Japanese and U.S. monetary policy are likely to be key to exchange rates. In 2014, the Japanese cu...

  • Capital flow

    Indonesian rupiah hits 16-year low amid stock rally

    SINGAPORE -- Indonesia's rupiah on Friday fell to 12,940 per dollar, the lowest level since August 1998, on a surge of selling triggered by the central bank's recent decision to cut interest rates. By contrast, the Jakarta Composite Index, Indone...

  • Dollar retreats in lower 119 yen on month-end repatriation

    TOKYO (Kyodo) -- The U.S. dollar retreated slightly in the lower 119 yen level Friday in Tokyo as Japanese exporters sought to repatriate overseas earnings at the end of February. At 5 p.m., the dollar fetched 119.28-30 yen compared with 119.36-4...

  • Foreign exchange

    Turkish lira back near record low against dollar

    TOKYO -- Turkey's currency is under pressure again as President Recep Tayyip Erdogan leans on the central bank to loosen monetary policy. The lira languished at upwards of 2.48 to the dollar in Tokyo trading Thursday, nearing a record low of more...

  • Going strong for now

    Global easing moves cast shadow over Indian rupee

    MUMBAI -- Although the rupee has been resilient against the dollar, it is rising against currencies of countries pulling hard on the quantitative easing lever. In fact, the globally coordinated easing trend, in which central banks essentially print m...

  • A bumpy ride Down Under

    With China buying fewer resources, Australian dollar takes a plunge

    MELBOURNE -- The Australian dollar is taking a breather. After falling from 94 U.S. cents in September to a five-year low of $0.76 on Feb. 12, the currency has since stabilized at around $0.78. But it is widely forecast to fall further as the U.S. ec...

  • Bracing for China risks

    Asian easing in for a difficult year

    TOKYO -- Monetary easing is sweeping across Asia. Over the last four weeks, India, Singapore, Australia and China have loosened their monetary reins in one way or another. There are compelling reasons for each of these countries to adopt easier m...

  • Foreign exchange

    Speculators shunning the yen

    TOKYO -- Hedge funds and other speculative traders are gradually unwinding bets against the yen while seeking to profit from movements in currencies that have seen more recent monetary easing. The value of net short positions in the yen held by n...

  • Foreign exchange markets

    Global currency battle may stop yen's downtrend

    TOKYO -- A global currency war is about to begin. In the past month, the European Central Bank has unveiled its quantitative easing program and other central banks have embarked on looser monetary policy. Why? There are two reasons. First, resou...

  • Precious fruit

    Japanese shoppers to pay more for bananas this year

    TOKYO -- Japanese consumers can say goodbye for now to inexpensive bananas, with the blame falling on the stronger yen, a blight in the Philippines, and a growing appetite for the fruit in emerging economies. One-year contracts are the norm in th...

  • More bitcoin bad news?

    Hong Kong virtual-currency exchange goes dark

    HONG KONG -- A local bitcoin exchange has stopped operating without notice, raising fears that some 3 billion Hong Kong dollars ($386 million) of client money may have disappeared. Some of the roughly 3,000 people investing with MyCoin plan to fi...

  • Surprise interest rate cut

    Australia's central bank backed into corner by monetary easing bandwagon

    SYDNEY -- The recent spate of rate cuts by central banks around the world were likely a major factor behind the Australian central bank's decision to cut its cash rate to a record low level. The Reserve Bank of Australia decided to lower its poli...

  • Preventing the rupee's rise

    Indian central bank deploys a delicate touch

    MUMBAI -- The Reserve Bank of India is delicately trying to protect the rupee from a global wave of currency depreciation. The Indian central bank decided to keep its key interest rate unchanged last Tuesday, while adopting a set of measures incl...

  • Market philosophies

    Taiwan, Hong Kong take different tacks on volatility

    HONG KONG -- Asian stock exchanges are traveling different paths regarding volatility, with Taiwan planning to relax strict limits on price movements but freewheeling Hong Kong considering a type of circuit breaker to rein in sharp swings. Taiwan...

  • Easy money

    Currency war a worry ahead of G-20 finance gathering

    TOKYO -- With a number of countries loosening monetary policy, avoiding competitive currency devaluation has emerged as a key issue for the meeting of Group of 20 finance ministers and central bankers that kicks off Monday in Istanbul. G-20 membe...

  • Foreign exchange

    Australian dollar's slide continues

    TOKYO -- The Australian dollar weakened further against major currencies Thursday after lackluster consumer spending data cast a shadow on the economy Down Under. The Aussie touched 90.8 yen and is trading at a roughly one-year low against the Ja...

  • Foreign exchange

    Yen levels off as crude payments ease

    TOKYO -- The plunge in crude oil prices has undercut demand for dollars, helping to arrest a monthslong slide by Japan's currency. The yen strengthened against the dollar for the first time in seven months in January, holding at around 118 to the...

  • Bound monetary policy

    Turkish lira at record lows amid political pressure on central bank

    TOKYO -- Brewing concerns over political intervention in Turkey's central bank are steering investors away from the lira, which weakened to a record 2.4 against the dollar at one point Thursday. The lira continued to languish at historic lows Fri...

  • Offshore deposits

    Hong Kong cracks 1 trillion yuan after conversion cap removed

    HONG KONG -- Yuan-denominated deposits in Hong Kong totaled 1.0035 trillion yuan ($129 billion) in December, breaking the 1 trillion mark for the first time, the Hong Kong Monetary Authority said Friday. The increase was attributed partly to the ...