Currencies

Currency outlook

Indian rupee plummets on trade worries

TOKYO -- The Indian rupee sank to its lowest in three and a half months against the U.S. dollar Thursday amid market worries of costlier agriculture and crude oil imports that could worsen the country's trade balance. The Indian currency dropped ...

  • More easing expected

    Australian dollar could decline further as RBA head hints at rate cuts

    TOKYO -- Market watchers expect the Australian dollar to weaken further. Reserve Bank of Australia Gov. Glenn Stevens hinted at cash rate cuts on Monday, spurring speculation that the central bank could decide on additional monetary easing at its May...

  • South Korean currency

    Won keeps rising despite market intervention

    SEOUL -- Monetary authorities in South Korea are reportedly steering the strengthening won lower intermittently to prevent adverse effects on the export-oriented economy. As trading in the won is limited to South Korea and is small in scale, off...

  • Dollar remains firm in mid-119 yen range ahead of ECB meeting

    TOKYO (Kyodo) -- The U.S. dollar remained firm in the mid-119 yen range in Tokyo on Wednesday amid a wait-and-see mood ahead of the European Central Bank's policy meeting later in the day. At 5 p.m., the dollar fetched 119.49-52 yen compared with...

  • Turning tide

    Euro softens to 22-month low against yen

    TOKYO -- The euro has sunken to the lowest level against the yen in a year and 10 months, with quantitative easing by the European Central Bank weighing on the region's currency. The euro gained strength at the start of this month after sluggish ...

  • World's next reserve currency?

    Yuan turns a corner as AIIB portends bigger role

    HONG KONG -- The weakening of downward pressure on the yuan is widely attributed to diminished expectations for an early U.S. interest rate hike, but China's own ambitions may be playing a role as well. The Chinese currency fell 2.4% against the ...

  • Dollar climbs to upper 119 yen level as U.S. jobs data shrugged off

    TOKYO (Kyodo) -- The U.S. dollar rose to the upper 119 yen zone in Tokyo on Tuesday amid expectations U.S. economic indicators are likely to firm up again after a weak March jobs report, keeping alive expectations the Federal Reserve will raise inter...

  • U.S. job growth weakest since 2013; unemployment rate steady

    WASHINGTON (Reuters) -- U.S. employers added the fewest jobs in more than a year in March amid signs the economy was starting to take strain from a strong dollar and lower oil prices, which could delay an anticipated interest rate increase from the F...

  • Dollar flat in upper 119 yen zone in thin trading before jobs data

    TOKYO (Kyodo) -- The U.S. dollar changed little in the upper 119 yen level Friday in Tokyo as traders awaited a key U.S. jobs report due out later in the day amid holiday-thinned trading. At 5 p.m., the dollar fetched 119.63-64 yen compared wit...

  • International crisis management

    Fed snubs emergency currency swap scheme for emerging countries

    WASHINGTON -- Top U.S. financial policymakers have quietly turned down a proposal to create a new multilateral currency swap facility to bail out emerging countries facing a currency crisis. The idea was floated amid growing concerns that the loo...

  • Eyes on June OPEC meeting

    Ruble holds firm as concerns ease

    TOKYO -- The ruble has stabilized. Unlike in December, the currency has not suffered a huge decline in value, even after U.S. ratings agencies downgraded Russia's sovereign credit rating and the country's central bank cut its key interest rate. W...

  • Cutting red tape

    Chinese central bank mulls easing currency controls

    BOAO, China -- The nation's central bank is eyeing aggressive financial reforms to encourage international use of the yuan, including loosening capital controls. "This year, we may be able to thoroughly update the laws on foreign exchange control...

  • Goodbye, carry trades

    Yen's value no longer inversely correlates to Nikkei movements

    TOKYO -- The link between the yen and Japanese stocks has decisively weakened, as demonstrated by the currency's dull reaction to the Nikkei Stock Average's 371-point drop in intraday trading on Friday. The long-held inverse correlation between t...

  • Forex options market

    Investors bet on yen's rise

    TOKYO -- Foreign exchange market players see the Japanese currency strengthening, slowly purchasing call options on the yen. The currency moved in a tight range of low- to mid-119 to the dollar in Tokyo trading Friday. Investors increasingly are ...

  • Currency market

    Central bank intervention supports Chinese yuan

    SHANGHAI -- The People's Bank of China is intervening in the currency market this week, buying the yuan and selling the dollar since Tuesday. The yuan strengthened 0.65% against the greenback at one point Thursday on the Shanghai market, the shar...

  • US monetary policy

    Yen to rise little despite Fed's dovish tone

    TOKYO -- The U.S. Federal Reserve has stopped describing its stance on a possible rate hike as "patient," but anyone expecting a prompt rise is likely destined for disappointment. The Federal Open Market Committee's latest statement, released Wed...

  • Dollar trades in lower 120 yen range in early Tokyo deals

    TOKYO (Kyodo) -- The U.S. dollar traded in the lower 120 yen range early Thursday in Tokyo, little changed from its overnight levels in New York. At 9 a.m., the dollar fetched 120.07-08 yen compared with 120.04-14 yen in New York and 121.32-33 ye...

  • Declining Asian currencies

    Successive interest rate cuts fuel slide

    JAKARTA/KUALA LUMPUR -- Asia's currency markets have been rocked by a string of surprise interest rate cuts, as central banks in the region made adjustments in hopes of boosting growth. Yet for some, weak currencies are raising concerns that the cuts...

  • Currency aspirations

    China pushes for yuan's acceptance into IMF Special Drawing Rights

    BEIJING -- The Chinese government aims to have the yuan added to the basket of currencies which make up the Special Drawing Rights, a form of reserve asset used by the International Monetary Fund and member states. The opportunity for inclusion comes...

  • Currency war

    Eurozone to blame for strong dollar

    TOKYO -- Amid growing frustrations in the U.S. about the strong dollar, Japan should clearly argue against critics of its monetary policy. There is a clear difference between Japan's situation and the one the European Union finds itself in. Euro-...