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23 Aug

Ghosts of 2002 'corralito' spur Argentines to shun banks, stash cash at home

Ghosts Of 2002 'corralito' Spur Argentines To Shun Banks, Stash Cash At Home

By Walter BianchiBUENOS AIRES It happened in 1989. It happened in 2002. Argentines who are old enough to remember do not want to go through it again.A run on the peso since the Aug. 11 primary election, which signaled that business-friendly President Mauricio Macri likely will not get re-elected, shocked Argentines who remember being blocked from

23 Aug

Forex - U.S. Dollar Flat as Powell Promises to ‘Sustain’ Economic Expansion 

Forex - U.S. Dollar Flat As Powell Promises To ‘Sustain’ Economic Expansion 

. The U.S. dollar was flat on Friday after Federal Reserve Chairman Jerome Powell said the central bank would keep an eye on the economy and act as needed, but failed to give any new guidance on interest rates. “We will act as appropriate to sustain the expansion,” Powell said in prepared remarks at the Fed’s Jackson Hole, Wyom. summit. The economy is in a

23 Aug

Le Brexit breakthrough? Europe says 'Nein', 'non', 'no'

Le Brexit Breakthrough? Europe Says 'Nein', 'non', 'no'

. Le Brexit breakthrough? Europe says 'Nein', 'non', 'no' By Guy Faulconbridge, Richard Lough and Andreas RinkeLONDON/PARIS/BERLIN After sterling soared and some British newspapers roared at a supposed Brexit victory for Prime Minister Boris Johnson, Europe's power brokers had a more sobering message: the basic divorce deal is not changing.Three years aft

23 Aug

Forex: Dollar Gains as Traders Trim Rate Hopes Before Powell Speech

Forex: Dollar Gains As Traders Trim Rate Hopes Before Powell Speech

. -- The dollar was broadly higher in early trading in Europe Friday in generally quiet trading ahead of a keenly-awaited speech by Federal Reserve Chairman Jerome Powell at 10 AM ET (1400 GMT).At 3:30 AM, the dollar index, which tracks the greenback against a basket of currencies, was up some 0.2% from late Thursday’s levels at 98.222, with its biggest gains com

23 Aug

Forex - New Zealand Dollar Rises on Comments from RBNZ’s Orr; Dollar Inches Up

Forex - New Zealand Dollar Rises On Comments From RBNZ’s Orr; Dollar Inches Up

. The New Zealand dollar rose against the U.S. dollar following comments by Reserve Bank of New Zealand (RBNZ)’s Governor Adrian Orr.The New Zealand dollar traded 0.4% higher against the U.S. dollar after Orr told TV that he was "pleased" with where interest rates were at, and that the central bank to wait on monetary policy. The RBNZ surprised market

23 Aug

Dollar in holding pattern ahead of Fed speech, kiwi jumps on RBNZ comments

Dollar In Holding Pattern Ahead Of Fed Speech, Kiwi Jumps On RBNZ Comments

By Stanley WhiteTOKYO The dollar held steady in Asia on Friday on expectations U.S. Federal Reserve Chairman Jerome Powell would stick with his message that the central bank has not entered a prolonged monetary easing cycle.Powell gives a highly-awaited speech later Friday at a meeting of central bankers in Jackson Hole, but doubts have emerged af

22 Aug

Forex - U.S. Dollar Flat After Disappointing PMI Data; Fed Summit Eyed

Forex - U.S. Dollar Flat After Disappointing PMI Data; Fed Summit Eyed

. The U.S. dollar dipped on Thursday before recovering after data showed a decline in the manufacturing and services sector as businesses remain wary about the health of the U.S. economy. But another inversion in the 10-year to 2-year Treasury yield curve this morning put pressure on the greenback and sank an early rally in equities.The IHS manufacturing PMI for

22 Aug

Forex - Dollar Slips, Euro Pushes Higher after PMI Data

Forex - Dollar Slips, Euro Pushes Higher After PMI Data

. The dollar slipped lower on Thursday as expectations for further Federal Reserve rate cuts waned, while the euro gained ground after Eurozone private sector data boosted hopes that the bloc’s economy could avoid a recession.The dollar was down 0.2% at 1.1104 euro by 03:47 AM ET (07:47 GMT) after French and German PMI data for August came in ahead of expectati

22 Aug

Yuan eases to fresh 11-year low on trade woes, draws state bank support

Yuan Eases To Fresh 11-year Low On Trade Woes, Draws State Bank Support

. Illustration photo of a China yuan note SHANGHAI China's yuan slipped to a fresh 11-year low against the dollar on Thursday, despite support from major state-owned banks in both the spot and forwards markets. Traders said sentiment was fragile, with recent news headlines offering little hope of a U.S-China trade deal anytime soon and new U.S. levies on

22 Aug

Major China state-owned banks seen supporting yuan after fresh fall: traders

Major China State-owned Banks Seen Supporting Yuan After Fresh Fall: Traders

SHANGHAI Major Chinese state-owned banks were seen supporting the yuan in the forwards markets on Thursday after it fell to fresh 11-year lows, two traders with knowledge of the matter said.The banks were receiving dollar liquidity in the forwards market before selling the greenback in the onshore spot market, traders said.One of them said the sta

22 Aug

Forex - U.S. Dollar Near Flat After Fed Minutes

Forex - U.S. Dollar Near Flat After Fed Minutes

. The U.S. dollar was largely unchanged on Thursday in Asia. The U.S. Federal Reserve’s July 30-31 meeting minutes released overnight received some focus.The Minutes showed that officials saw the central bank’s rate cut last month as measures taken amid the trade war with China and low inflation. Fed Chairman Jerome Powell will give a speech on Friday. His co

22 Aug

Argentine presidential front-runner seeks alternatives to austerity: advisers

Argentine Presidential Front-runner Seeks Alternatives To Austerity: Advisers

. FILE PHOTO: Primary elections in Argentina By Hugh Bronstein and Hernan Nessi BUENOS AIRES Economic advisers to Argentina's presidential front-runner and opposition leader Alberto Fernandez said he would seek alternatives to the current administration's austerity measures in a meeting with the new Treasury Minister on Wednesday. Center-left Peronist Fer

22 Aug

Dollar holds gains after Fed minutes temper rate cut expectations

Dollar Holds Gains After Fed Minutes Temper Rate Cut Expectations

By Stanley WhiteTOKYO The dollar held gains on Thursday after minutes from the Federal Reserve's last policy meeting hosed down some aggressive expectations the central bank would embark on a series of deep interest rate cuts.Asian currencies are expected to trade in tight ranges on Thursday ahead of U.S. Federal Reserve Chairman Jerome Powell's s

21 Aug

Forex - Sterling Falls as France Assumes No Deal Brexit 

Forex - Sterling Falls As France Assumes No Deal Brexit 

. Sterling fell on Wednesday after reports that the French government sees a no-deal Brexit as the baseline. reported that a top official in French President Manuel Macron’s office said no-deal is most likely after the fallout from U.K. PM Boris Johnson demanding the EU drop the Irish backstop. Johnson demanded on Tuesday that the backstop be removed fr

21 Aug

Argentina new economy chief will not allow 'irrational' run on peso

Argentina New Economy Chief Will Not Allow 'irrational' Run On Peso

By Hugh Bronstein and Hernan NessiBUENOS AIRES Argentina will not allow a chaotic fall in the peso and will use its dollar reserves to bolster the currency against political uncertainty that has swept the country since the Aug. 11 primary election, Treasury Minister Hernan Lacunza said on Wednesday.The peso opened 0.47% weaker at 55 to the U.S. do

21 Aug

Euro struggles vs dollar as attention turns to Fed

Euro Struggles Vs Dollar As Attention Turns To Fed

. Signs of U.S. dollar and Euro are seen at a currency exchange office in Istanbul By Tommy Wilkes LONDON The euro struggled to make headway against a resilient dollar on Wednesday and was stuck near $1.11, with forex markets mostly calm ahead of a crucial meeting of central bankers later this week. With markets rushing to price significant easing from c

21 Aug

Forex - Dollar Hovering Near 3-Week Highs ahead of Fed Minutes

Forex - Dollar Hovering Near 3-Week Highs Ahead Of Fed Minutes

. The U.S. dollar was hovering just below three-week highs in subdued trade on Wednesday as investors looked ahead to the minutes of the Federal Reserve’s July meeting later in the day for fresh clues on the monetary policy outlook.The Fed cut rates for the first time since 2008 last month in what Chairman Jerome Powell called a “mid-cycle adjustment.” Fina

21 Aug

Bankers hawk hedging as trade war hits China's yuan

Bankers Hawk Hedging As Trade War Hits China's Yuan

By Samuel Shen and Andrew GalbraithSHANGHAI In a Shanghai room packed with small businesses ranging from furniture makers to garment exporters, Zhu Yuan, a currency expert at Bank of Communications, explains why Chinese companies need to build their defenses against currency volatility."Currency swings are now largely at the mercy of geopolitics a

21 Aug

Dollar nudged off three-week high, U.S. yields capped before Jackson Hole

Dollar Nudged Off Three-week High, U.S. Yields Capped Before Jackson Hole

. U.S. dollar notes are seen in this picture illustration By Shinichi Saoshiro TOKYO The dollar was under pressure on Wednesday, elbowed off a three-week peak after a bounce in U.S. yields stalled ahead of a global central bankers meeting, at which the Federal Reserve is expected to give clues on further rate cuts. Officials from major central banks will

21 Aug

Forex - U.S. Dollar Flat; Euro Also Little Changed as Italy’s PM quits

Forex - U.S. Dollar Flat; Euro Also Little Changed As Italy’s PM Quits

. The U.S. dollar was near flat on Wednesday in Asia, while the Euro was also largely unchanged as Italy’s Prime Minister quit.The U.S. dollar index that tracks a basket of other currencies was little changed at 98.107. A gathering of central bankers at Jackson Hole, Wyoming and a speech by Federal Reserve Chairman Jerome Powell are expected to be major directi

21 Aug

Dollar nudged off three-week peak as U.S. yields dip before Jackson Hole meet

Dollar Nudged Off Three-week Peak As U.S. Yields Dip Before Jackson Hole Meet

By Shinichi SaoshiroTOKYO The dollar was on the defensive on Wednesday, elbowed off a three-week peak by a reversal in U.S. yields as they headed south again ahead of a meeting of central bankers, at which the Federal Reserve is expected to give clues on further rate cuts.Central bankers will gather at Jackson Hole, Wyoming, on Friday with markets

21 Aug

Asia’s Top Currency Helps Thai iPhone Retailer Lead the World

Asia’s Top Currency Helps Thai IPhone Retailer Lead The World

. Asia’s Top Currency Helps Thai iPhone Retailer Lead the World -- While Thailand’s surging currency is squeezing exporters, the nation’s largest consumer-electronics retail chain is benefiting as the strong baht attracts customers by making iPhones and Samsung smartphones cheaper.Com7 Pcl’s 72% total return this year through Monday on its stock r

20 Aug

Forex - Euro Recovers After Italian PM Resigns

Forex - Euro Recovers After Italian PM Resigns

. The euro recovered from earlier lows after Italy’s Prime Minister Giuseppe Conte said he is resigning ahead of no-confidence vote, putting the future of the Italian government in jeopardy. Uncertainty still remains, as it is unclear if snap elections will be called or if parliament will be asked to try and form a new government. The 5 Stars Movement and the t

20 Aug

Summer calm: some traders back away from 'extreme' sterling shorts

Summer Calm: Some Traders Back Away From 'extreme' Sterling Shorts

By Olga CotagaLONDON After shedding nearly 10% of its value since mid-March, sterling may enjoy some calm over the remaining weeks of the British summer as traders take advantage of a parliamentary recess to unwind short positions in the currency.Fears that Britain will leave the European Union on the Oct. 31 deadline without any transitional agre

20 Aug

Lira Takes a Hit as Dollar Strength Catches Up With Turkey Bulls

Lira Takes A Hit As Dollar Strength Catches Up With Turkey Bulls

-- The strength of the U.S. dollar is finally catching up with the lira.After a rally that saw the Turkish currency buck an emerging-market rout over the past few months as the dollar gained, the lira is back to leading losses. It slumped as much as 1.5% to a one-month low of 5.7485 against the U.S. currency as of 1:10 p.m. on Tuesday.The U.S. cur