Currencies

Indonesia uptick

Rupiah and stocks rally on Fed cautiousness

JAKARTA -- Indonesia's currency and stock market recovered some ground on Thursday after the U.S. Federal Reserve said it would be cautious about increasing interest rates. The rupiah strengthened by more than 1% to around 12,550 on the U.S. doll...

  • South Korea's headache

    Won rises even as emerging currencies slip

    TOKYO -- South Korea's won keeps appreciating even while emerging-market currencies tumble -- a sign, some say, that the won has joined the club of safe assets since the country boasts a huge current-account surplus. The won traded at the 1,090 l...

  • Avoiding another crisis

    Asia better equipped to prevent currency crash

    SINGAPORE -- The Russian ruble's rapid decline has triggered some concerns over a repeat of the 1997 Asian currency crisis, but most market watchers say the region is now better prepared to deal with the selling pressures surrounding their currencies...

  • Rampant volatility taking toll

    Tumbling crude prices shaking financial markets

    TOKYO -- Plunging crude prices are sending shock waves around the world, undercutting the currencies of oil-producing countries and sapping energy-related stocks and corporate bonds while boosting the yen and other safe havens. The Central Bank o...

  • Rupiah plummets

    Indonesia steps in to defend financial market

    JAKARTA -- Indonesia's government and central bank intervened in the financial market Tuesday, and announced fiscal measures aimed at pulling the rupiah out of its swoon. Perry Warjiyo, deputy governor of Bank Indonesia, said the central bank has...

  • Russia raises rates in emergency move as ruble collapses

    MOSCOW (Reuters) - Russia's central bank raised its key interest rate to 17 percent from 10.5 percent early Tuesday in an emergency move to halt a collapse in the rouble as oil prices decline and the country's sanctions-hit economy slides toward rece...

  • Ripple effect

    Aussie currency seen sinking with others

    TOKYO -- The Australian dollar will weaken as the softening of oil producers' currencies spreads to countries that mine other natural resources, market players predict. The Australian dollar traded at 96.98 yen on Monday, the lowest since Nov. 1....

  • Rupiah plummets

    Pressure grows for Indonesian companies as currency hits 16-year low

    JAKARTA -- The Indonesian rupiah plunged to around 12,800 against the dollar on Monday, the lowest level since August 1998 during the Asian financial crisis. The rupiah is down by more than 1% from Friday, plunging nearly 30% in the last 18 month...

  • Japanese election

    Market watchers expect more of the same from equities, yen

    TOKYO -- Japanese-market watchers are predicting that the ruling bloc's electoral triumph Sunday will bolster share prices and keep the yen weak. Prime Minister Shinzo Abe's Liberal Democratic Party and coalition partner Komeito were on track to ...

  • New target

    Dollar at 124.14 yen may change everything

    TOKYO -- Japan's currency is approaching a historic point. The threshold of 124.14 yen against the dollar, logged in June 2007, was the lowest the yen reached in the period before the financial crisis. Surpassing that point would mark a new phase...

  • Foreign exchange

    New Zealand dollar jumps versus yen on rate hike hint

    TOKYO -- New Zealand's currency, popular among yield-hungry Japanese retail investors, surged against the yen Thursday after the country's central bank governor surprised the market by signaling a rate rise ahead. The New Zealand dollar touched a...

  • Slowdown in China

    Weak economy pushes yuan to 5-month low

    TOKYO -- The yuan is expected to remain soft after falling to a five-month low against the greenback Tuesday as lackluster economic indicators from November raise concerns over a slowdown in the Chinese economy. Chinese imports shrank on the yea...

  • Emerging-market currencies

    Ruble hitting bottom on crude's decline, sanctions

    TOKYO -- Currencies of resource-rich emerging economies, such as the Russian ruble, have been weakened considerably by the drop in crude oil prices and other developments, fueling concerns of inflation and mushrooming external debt. Crude prices ...

  • Onshore currency market

    Chinese economic slowdown pushes yuan to 5-month low

    HONG KONG -- The value of the yuan traded in China hit 6.2064 to the dollar at one point Tuesday, weakening 0.54% from Monday's closing price to a roughly 5-month low on concerns over the country's lackluster economy. Domestically-traded yuan has...

  • Derivatives market

    Tokyo bourse may return to forex futures trading

    TOKYO -- The Tokyo Financial Exchange is considering returning to currency futures trading as early as 2016, as it seeks to reinvigorate the Tokyo market with a broader list of products for investors. The bourse withdrew from currency futures in ...

  • Polarizing economy

    Weak yen broadening rift between large and small, rich and poor

    TOKYO -- The yen's incessant slide is widening the gap between large corporations, which benefit from a soft currency, and smaller businesses and households that will see their finances squeezed. Strong U.S. employment figures for November, relea...

  • Japanese currency weakens

    Yen hits another 7-year low against dollar

    SINGAPORE -- The Japanese currency traded in the upper-119 yen range against the U.S. dollar in Asian markets Friday morning, weakening beyond the level reached overnight in New York trade. Overnight in Asia, the yen moved past the upper-120 line...

  • Recipe for disaster?

    Market watchers say yen's slide not over yet

    TOKYO -- The yen fell past the 120 mark against the dollar on Thursday, the weakest level in more than seven years, but many expect the Japanese currency to remain on a downward trajectory for a while. The Japanese currency has softened by about ...

  • Downward spiral

    Yen hits 120 to dollar

    TOKYO -- The yen touched an 88-month low of 120.25 to the dollar at one point in New York on Thursday, heightening concerns that the weak home currency will further squeeze Japanese households and smaller businesses. The yen, which initially trea...

  • US economic recovery

    Dollar leading major currencies in 2014

    TOKYO -- The U.S. dollar is emerging as this year's "winner" on the foreign exchange market as cash from around the world flocks to dollar assets on anticipation of an interest rate hike there. The greenback had risen 7.7% in 2014 as of Wednesday...