Currencies

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-...

  • Bracing for capital flight

    Slide in emerging markets' currencies gains momentum

    LONDON/JAKARTA -- As low crude oil prices improve economic conditions, emerging markets are loosening their tight monetary stances and seemingly tolerating some currency depreciation to boost exports. The Brazilian real has weakened by 17% agains...

  • Foreign exchange markets

    Japan may step in to break yen's fall if trend continues

    TOKYO -- The Japanese government does not seem to mind the yen's steep drop of late, but it may start issuing warnings if the currency's decline picks up speed. At one point earlier this week, the yen fell to the lowest level in seven years and e...

  • Indonesia currency

    Concerns as rupiah hits 17-year low

    JAKARTA -- Indonesia's government and central bank are facing the difficult task of balancing a weak rupiah with promises of stepped-up economic growth. The rupiah, among the worst performing currencies in the region, has declined more than 5% al...

  • Bank Indonesia

    Formulating policy to bolster the rupiah

    JAKARTA -- With the rupiah further weakening against the dollar amid speculation of an early U.S. rate hike, Indonesian Finance Minister Bambang Brodjonegoro said Tuesday that the government is mulling sanctions on the use of foreign currency in dome...

  • Riding the rally

    Nikkei, Dow Jones change places thanks to dollar's advance

    TOKYO -- Japan's Nikkei Stock Average has topped the Dow Jones Industrial Average of the U.S. for the first time in a long time. The U.S. market indicator's absolute figure had been moving above its Japanese counterpart since around Septembe...

  • Dollar trades in upper 119 yen zone in early Tokyo deals

    TOKYO (Kyodo) -- The U.S. dollar traded in the upper 119 yen zone in Tokyo early Wednesday, little changed from its levels overnight in New York. At 9 a.m., the dollar fetched 119.63-64 yen compared with 119.70-80 yen in New York and 119.78-80 ye...

  • Monetary policy

    As US, Japan diverge, yen in for rough ride

    TOKYO -- In the first two months of the year, the yen has traded between 115 and 120 against the dollar. As was the case last year, developments in Japanese and U.S. monetary policy are likely to be key to exchange rates. In 2014, the Japanese cu...

  • Capital flow

    Indonesian rupiah hits 16-year low amid stock rally

    SINGAPORE -- Indonesia's rupiah on Friday fell to 12,940 per dollar, the lowest level since August 1998, on a surge of selling triggered by the central bank's recent decision to cut interest rates. By contrast, the Jakarta Composite Index, Indone...

  • Dollar retreats in lower 119 yen on month-end repatriation

    TOKYO (Kyodo) -- The U.S. dollar retreated slightly in the lower 119 yen level Friday in Tokyo as Japanese exporters sought to repatriate overseas earnings at the end of February. At 5 p.m., the dollar fetched 119.28-30 yen compared with 119.36-4...

  • Foreign exchange

    Turkish lira back near record low against dollar

    TOKYO -- Turkey's currency is under pressure again as President Recep Tayyip Erdogan leans on the central bank to loosen monetary policy. The lira languished at upwards of 2.48 to the dollar in Tokyo trading Thursday, nearing a record low of more...

  • Going strong for now

    Global easing moves cast shadow over Indian rupee

    MUMBAI -- Although the rupee has been resilient against the dollar, it is rising against currencies of countries pulling hard on the quantitative easing lever. In fact, the globally coordinated easing trend, in which central banks essentially print m...