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Dollar licks wounds after soft data fans bets on dovish Fed

TOKYO: The dollar licked its wounds on Monday after soft U.S. data increased bets the Federal Reserve will cut rates later this year while the pound hovered near nine-months high on hopes for a delay in Britain's exit from the European Union.

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THE US dollar softened 0.44% to 96.8 largely owing to an improving risk appetite following the UK averting a “no-deal” exit and progressive trade talks. The market cheered after the Trump-Xi summit is now postponed to next month, signalling strong commitments to seal a deal by both parties.

Ringgit lower against US$ despite better than expected local data

KUALA LUMPUR: The ringgit extended Thursday's downtrend to be lower against the US dollar early Friday as the greenback strengthened amid talks of delay to US-China summit, offsetting several better-than-expected Malaysia economic data.

At 9 am (0100 gmt), the ringgit stood at 4.0900/0940 against the US dollar from 4.0890/0940 at the close Thursday.

Ringgit rises on demand for emerging currencies

KUALA LUMPUR: The ringgit opened higher against the US dollar early Thursday as the weaker greenback sentiment spurred demand for emerging currencies, dealers said.

At 9 am (0100 gmt), the ringgit stood at 4.0850/0880 against the US dollar from 4.0865/0905 at the close Wednesday

Asia shares take a breather, pound near 9-month peak

SYDNEY: Asian shares paused on Thursday as investors awaited data from China for clues about the health of the world's second largest economy while the pound shot up to near nine-month highs as the risk of a no-deal Brexit receded following a late-night vote

MSCI's broadest index of Asia-Pacific shares outside Japan was barely changed at 522.38 points. Japan's Nikkei jumped 0.6 percent while Australian and New Zealand shares each added 0.2 percent.  Asian markets have seen an impressive rally this year with the MSCI index climbing about 10 percent largely after the U.S. Federal Reserve all but abandoned its rate hike plans.

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