Currencies

Volatile market

Hedge funds gave yen its sudden strength

A report put out Friday by by the U.S. Commodity Futures Trading Commission shows hedge fund transactions caused the yen to rapidly strengthen early last week. During the period of Aug. 19-25, hedge funds drastically reduced their sell positions in t...

  • Nicholas Spiro

    China the real worry for emerging market investors

    Investor sentiment towards emerging markets remains bleak. Emerging market stocks have lost 10% in dollar terms this month, resulting in a 20% decline over the past three months. In the period between Aug. 19 and 26, emerging market bond funds su...

  • Dollar rises to mid-120 yen on solid U.S. economy

    TOKYO (Kyodo) -- The U.S. dollar rose to the mid-120 yen zone on Thursday, supported by improved sentiment toward the currency following a rally on Wall Street and the release of upbeat U.S. economic data the previous day. At 5 p.m., the dollar f...

  • Dollar firms to lower 119 yen zone on China easing steps

    TOKYO (Kyodo) -- The U.S. dollar firmed to the lower 119 yen range in Tokyo on Wednesday as China's much-anticipated easing steps somewhat shored up flagging global financial markets, giving the U.S. currency some support. At 5 p.m., the dollar f...

  • Flight to safe havens

    Yen stiffens to strongest level since October

    TOKYO -- The yen is appreciating against a broad range of currencies as investors worldwide move money to safe havens. The trade-weighted Nikkei Currency Index shows that the yen's nominal effective value against 24 currencies of Japan's key trad...

  • Dollar rebounds to upper 119 yen zone as Tokyo stocks rally

    TOKYO (Kyodo) -- The dollar rebounded to the upper 119 yen zone Tuesday morning in Tokyo following its sharp fall overnight in New York, as rallying Tokyo stocks somewhat eased a risk-averse mood among market participants that had spread amid a globa...

  • Dollar rebounds vs yen as U.S. equity futures rise

    SINGAPORE(Reuters) -- The dollar extended its gains versus the yen on Tuesday and rose 1.4 percent on the day at one point, as a rise in U.S. stock index futures helped ease risk aversion. The dollar rose to as high as 120.10 yen, up about 1.4 pe...

  • Japan Finance Minister Aso: Yen's rebound has been sharp

    TOKYO (Dow Jones) -- Japanese Finance Minister Taro Aso on Tuesday expressed worries about a resurgent yen, describing the currency's recent rise as "rough" and "sharp," though he suggested he isn't considering any countermeasures. "I think the m...

  • Dollar trades in upper 118 yen after drop to 7-month low

    TOKYO (Kyodo) -- The U.S. dollar traded in the upper 118 yen range early Tuesday morning in Tokyo following a plunge to a seven-month low overnight after market players rushed to buy the safe-haven yen on a plunge in U.S. stocks. At 9 a.m., the d...

  • Repercussions of slowing trade

    Asian stock markets see broad China-led sell-off

    SHANGHAI -- Chinese stocks led an across-the-board rout in Asian markets Monday, with China's neighbors and trading partners suffering heavy losses. The Taiwan Stock Exchange Weighted Index saw its largest one-day drop in four years, slumping 4.8...

  • Risk-shy market

    Japanese currency strengthens nearly 6 yen to dollar

    TOKYO -- Increasingly wary traders in the global financial markets are seeking a safe haven in the yen, making the Japanese currency gain strength against the greenback. The dollar fetched 116.15 yen at one point in trading Monday on New York's f...

  • Indian central bank

    Rajan ready to use $380bn forex reserves to support rupee

    MUMBAI -- The Reserve Bank of India today assured investors that it has enough foreign exchange reserves and will not hesitate to use them to dampen any volatility in the Indian rupee, as both the stock market and the domestic currency seek new lows....

  • Asia rout deepens, Tokyo stocks plunge

    WELLINGTON/SHANGHAI (Dow Jones) -- Markets throughout Asia fell Monday, as fears about the deepening effects of China's slowdown rattle investors across the globe. A number of currencies in the region fell to multiyear lows, with shares in China do...

  • S Korea suspected to have sold dollars to support won

    SEOUL (Reuters) -- South Korea's foreign exchange authorities were suspected to be selling dollars early on Monday as part of efforts to reduce market volatility, several foreign exchange dealers told Reuters. The won touched 1,200.0 against the do...

  • Malaysia ringgit hits pre-peg 17-year low on risk aversion

    SINGAPORE (Reuters) -- The Malaysian ringgit hit a fresh pre-peg 17-year low on Monday as sustained worries about China's economy dented global risk appetite with European and Wall Street stocks suffering their largest one-day drop in nearly four yea...

  • Foreign exchange

    Japanese companies face emerging-currency risk

    TOKYO -- Emerging markets' sagging currencies are becoming a concern for the multinationals that operate there, too. The Russian ruble and other currencies already prone to weakness began losing more strength in June as expectations rose of an in...

  • Dollar drops to upper 122 yen on weak global stocks, China data

    TOKYO (Kyodo) -- The U.S. dollar dropped to the upper 122 yen range on Friday in Tokyo, weighed down by global stock selloffs and sluggish Chinese economic data. At 5 p.m., the dollar fetched 122.89-90 yen compared with 123.37-47 yen in New York ...

  • Nicholas Spiro

    Malaysia's central bank must hold its nerve

    Caught between a rock and a hard place, the bank can only hope that the worst of the ringgit sell-off has passed, Nicholas Spiro writes.

  • Dong devaluation

    Vietnam central bank's next move depends on yuan

    HO CHI MINH CITY -- The State Bank of Vietnam on Wednesday widened the band in which the country's currency, the dong, floats against the dollar and lowered the reference exchange rate. This in effect pushed down the value of the dong to nearly 2...

  • Tenge plummets

    Kazakhstan abandons dollar peg amid oil slump

    ALMATY, Kazakhstan -- The currency of oil-rich Kazakhstan fell by more than a quarter Thursday after the government ditched its peg to the U.S. dollar and switched to a free-floating regime. As the National Bank of Kazakhstan withdrew its support...