Currencies

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 ...

  • Ruble collapse

    Russian travelers shun Southeast Asia as currency crisis bites

    PATTAYA -- It is Friday night in the heart of Pattaya, the famous and colorful Thai beachside resort town that became an irresistible lure for Russian tourists during the energy boom that followed the 2008 global financial crisis. But on the city...

  • Itsuo Toshima

    Is China partaking in competitive currency devaluation?

    The Chinese yuan has weakened to around 6.25 against the dollar, its lowest point since June 2014. This is close to the limit of the yuan's trading band and may indicate that Beijing is joining the global devaluation competition. The People's Ban...

  • Mizuho Bank in Taiwan

    Japanese lender to serve as clearing bank for island's domestic yen settlements

    TAIPEI -- Taiwan's Central Bank-backed domestic foreign currency settlement services will begin to cover Japanese yen, starting Jan. 28, with Mizuho Bank being the clearing bank. The move to include the Japanese currency in a centralized payment ...

  • Euro's rise just a blip

    Currency may slide further on Greek woes, US rate hike

    NEW YORK -- The euro rose against the dollar for the first time in three trading days Monday in New York. Investors sold the greenback for the euro to lock in profit before the U.S. Federal Open Market Committee releases its statement on Wednesday, b...

  • Dollar stays in lower 118 yen in risk appetite reprieve

    TOKYO (Kyodo) -- The U.S. dollar traded in the lower 118 yen zone in Tokyo on Tuesday morning, maintaining gains from overnight as risk appetite returned after initial cautiousness over Greece's election, aided by resurgent U.S. stocks and Treasury b...

  • Dollar changes little in mid-118 yen zone in early Tokyo deals

    TOKYO (Kyodo) -- The U.S. dollar traded in the mid-118 yen range early Tuesday in Tokyo, little changed from its levels overnight in New York. At 9 a.m., the dollar fetched 118.50-51 yen compared with 118.41-51 yen in New York and 118.16-19 yen i...

  • Market worries

    Euro sinks to 17-month low against yen after Greek elections

    TOKYO -- Election results in Greece sent the euro lower against a broad range of currencies Monday, with Europe's common currency falling to the lowest in 17 months against the yen. The euro is expected to continue weakening with expectations th...

  • Foreign exchange

    Aussie dollar slips to 5 1/2 year low

    TOKYO -- The Australian dollar weakened against the U.S. dollar Monday and also lost ground against the yen -- just the kind of moves that bullish Japanese day traders were waiting for. The Aussie dollar retreated to $0.7862 in Tokyo trading, its...

  • Euro remains weak ahead of Greek election amid uncertainty

    TOKYO (Kyodo) -- The euro remained weak against the U.S. dollar and the yen in Tokyo on Friday after plunging overnight on the European Central Bank's decision to launch quantitative easing, amid uncertainty over Greece ahead of a snap election this ...

  • Forex power balance

    Yen's position looking precarious after ECB move

    TOKYO -- As anticipated, the European Central Bank decided Thursday to launch a major bond-buying initiative. Although the move was not a surprise, the scale of the program -- 60 billion euros ($68.3 billion) in monthly asset purchases -- did exceed ...

  • Dollar falls to upper 117 yen zone after BOJ stands pat

    TOKYO (Kyodo) -- The U.S. dollar fell to the upper 117 yen range in Tokyo on Wednesday after the Bank of Japan kept its monetary policy unchanged in its policy meeting, dashing some market players' hopes for additional easing. At 5 p.m., the doll...

  • Currency trading

    China aims to expand non-dollar economic bloc through increased yuan transactions

    BEIJING -- Chinese President Xi Jinping has been moving aggressively on one of his administration's key polices, the internationalization of the yuan. With the world's biggest foreign currency reserves, close to $4 trillion, China is racing to cr...

  • BOJ on the ropes

    'Swiss shock' spooks central bank

    TOKYO - The Bank of Japan and the European Central Bank this week hold monetary policy meetings. A "Swiss shock" looms over both institutions. The biggest focal point at the ECB meeting was to be whether the bank decides to buy euro area governme...

  • Swiss franc fallout

    Surging currency rocks global markets

    TOKYO -- Switzerland's surprise move to scrap its cap on the franc has jolted global financial markets, with exporter stocks plunging in Japan as the yen gained sharply against the euro. The Swiss National Bank, which had kept the franc from appr...

  • New Zealand broker falls victim to end of Swiss-franc cap

    SYDNEY (Dow Jones) -- New Zealand currency trading house Global Brokers NZ Ltd. said it will close its doors, a casualty of the unexpected decision by the Swiss National Bank to cease capping the nation's currency. Global Brokers said in a stateme...

  • Swiss central bank shocks markets with currency "tsunami"

    ZURICH (Reuters) - The Swiss National Bank shocked financial markets on Thursday by scrapping a three-year-old cap on the franc, sending the safe-haven currency soaring against the euro and stocks plunging amid fears for the export-reliant Swiss econ...

  • Asian currencies

    Won wobbles against yen as investors pull back on risk

    TOKYO -- The South Korean won gained about 8% against the yen between mid-October and the start of December, but has since tread water. As worries over emerging economies grow due to the plunge in crude oil and political concerns in Greece, inves...

  • Currency market

    Indian rupee strengthens on cheap oil, Modinomics

    TOKYO -- The rupee is appreciating as hopes grow that the Indian economy will get a boost from cheap crude oil amid a tailwind from economic reforms led by Prime Minister Narendra Modi. The South Asian giant's currency traded at 62.08 against the...