Currencies

Forex fight

Speculators, small investors battle over dollar-yen moves

TOKYO -- Hedge funds and other overseas speculators are aggressively buying the dollar against the yen, while retail investos -- popularly known as "Mrs. Watanabe" -- are selling a massive amount of the U.S. currency. The dollar strengthened to ...

  • Yuan globalization

    China poised to press ahead with reform to join currency club

    CHONGQING, China -- The Chinese government appears willing to step up financial reform so that the yuan can become part of the basket of currencies determining the value of Special Drawing Rights, the international reserve asset created by the Intern...

  • IMF official says Chinese yuan no longer undervalued

    BEIJING (Dow Jones) -- China's currency is no longer undervalued given recent appreciation, but the government should pick up the pace in loosening controls on the exchange rate, a senior International Monetary Fund official said Tuesday. Speaki...

  • U.S. Treasury official: China must press ahead with currency reform

    OTTAWA/WASHINGTON (Reuters) -- China must press ahead with currency liberalization plans for the yuan to join the International Monetary Fund's reference basket of currencies, a senior U.S. Treasury official said on Tuesday. In a call to preview ...

  • Good news or bad news?

    Yen slides to lowest level in nearly 8 years

    TOKYO -- The yen dipped to its lowest level against the dollar since July 2007 at one point Tuesday, but the Japanese economy does not benefit from a weaker currency as much as it used to. The Japanese currency began its rapid descent just after ...

  • Imports top exports again

    Japan returns to trade deficit, weakening yen

    TOKYO -- As Japan's recent shift to a trade surplus proves fleeting, the yen is unlikely to strengthen in terms of real demand. In March, Japan's trade balance turned to a surplus for the first time in two years and nine months. But it fell back ...

  • Cost increases feared

    Yen's decline boosts shares but worries exporters

    TOKYO -- The yen has resumed its downward trajectory against the dollar, and some Japanese exporters, which would normally welcome such movement in their home currency, are now beginning to worry that it will hurt them instead via higher costs of imp...

  • Loosening market

    Yen declining again as banks, life insurers move money to foreign bonds

    TOKYO -- The Japanese currency has resumed its descent against the greenback amid the prospect of a U.S. rate hike this year and stepped-up purchasing of foreign bonds by banks and insurers. The yen weakened to 121.78 against the dollar at one po...

  • Dollar gains vs yen on Fed expectations

    TOKYO (Kyodo) -- The U.S. dollar held firm in the upper 121 yen range on Monday in Tokyo, aided by expectations for a U.S. interest rate hike later this year. At 5 p.m., the dollar fetched 121.63-65 yen compared with 121.50-60 yen in New York and...

  • South Korean currency

    Won still strengthening against yen

    TOKYO -- The won's rise is not running out of steam, with the South Korean currency at a roughly seven-year high against the yen even after the central bank slashed interest rates two months ago. This is all playing out against the backdrop of a ...

  • Monetary easing

    Investors risk more as central banks talk down currencies

    TOKYO -- While developed countries once again compete to devalue their currencies, market players appear to have shifted their investments to stocks and bonds. The change in attitude comes in anticipation that monetary easing within the largest econo...

  • Dollar hits 2-month high above 121 yen on upbeat U.S. housing data

    TOKYO (Kyodo) -- The U.S. dollar hit a two-month high above the 121 yen mark Wednesday in Tokyo, propelled by upbeat U.S. housing data and traders' increased risk appetite backed by better-than-expected Japanese economic growth. The dollar climbe...

  • Changing calculations

    Yen may stiffen as odds fall of US interest rate hike

    TOKYO -- Concerns that the U.S. may not hike interest rates by the end of 2015 as expected could shift market sentiment and buoy the yen toward the latter half of the year. "The yen could strengthen to under 115 to the dollar by next March," said...

  • Dollar weak in lower 119 yen range on U.S. economic woes

    TOKYO (Kyodo) -- The U.S. dollar traded in the lower 119 yen range in Tokyo on Thursday, weighed down by concerns over the course of the U.S. economy stemming from weak economic data. At 5 p.m., the dollar fetched 119.16-18 yen compared with 119....

  • Economic slowdown

    Australia's central bank trims growth outlook amid stubborn jobs data

    BANGKOK -- Australia's central bank has cut its economic growth forecasts for the country days after its May 5 decision to cut interest rates to historic lows of 2%, from 2.25%. In its quarterly economic statement issued May 8, the Reserve Bank o...

  • Tumbling Thai currency

    Amid rate cuts, baht sinks to lowest level since 2009

    TOKYO -- Thailand's baht stands at its lowest in five years and six months against the U.S. dollar here after the central bank in Bangkok slashed interest rates to stimulate the soft economy. The Bank of Thailand lowered the key interest rate by ...

  • Buffer against credit crunch

    Asian agreement to improve intraregional currency access

    BAKU, Azerbaijan -- Japan, China, South Korea and Southeast Asian countries will make it easier for companies to get ahold of Asian currencies within the region by using government bonds as collateral. Finance ministers and central bankers from t...

  • Euro breaks past $1.12 as dollar doubts grow

    LONDON (Reuters) -- The euro rose for a third day against the dollar on Thursday, pushing above $1.12 for the first time in two months on growing concern over the U.S. economy's prospects. With signs it will hold off on more monetary easing for t...

  • China's currency

    Yuan internationalization quest trumps exports -- for now

    HONG KONG -- Chinese authorities are giving the impression that they no longer want to hold down the yuan as a means of propping up the economy. "We don't want to see further devaluation of the Chinese currency, because we can't rely on devaluing...

  • 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 ...