Asian stock markets stabilised near three-month highs on Wednesday, helped by Hong Kong and Chinese shares, as investors judged US President-elect Donald Trump’s concerns over a stronger dollar to be beneficial to some of the regional bourses.
The British pound rebounded above $1.23 on Tuesday after Prime Minister Theresa May declared that any Brexit deal would be voted by Parliament. The London stock market fell further as the stronger pound weighed on share prices of multi-national firms.
China’s central bank sold a net $46.1 billion worth of foreign exchange in December, as the authorities continued to support the sliding yuan in the face of a rising dollar and slowing economic growth. Net foreign exchange sales by the People’s Bank of
The pound slumped Monday on reports British Prime Minister Theresa May was ready to take the country out of the EU in a so-called “hard Brexit.” Sterling’s weakness sent London’s FTSE 100 index to a fresh record high, while eurozone and Asian stock
Only a small group of central banks refrain from intervening in the foreign exchange market to stabilise their currencies’ exchange rate or coax it in the desired direction. Even when they do not intervene directly, their interest rate policies are often
Outgoing remittances from the UAE surged this week, as the US dollar strengthened against other major currencies including the pound sterling. The greenback has been on a winning streak against the British pound, Indian rupee, Philippine peso and other
Bitcoin is worth more than $1,000 for the first time since 2013, when it crossed that line very briefly. If one considers it a currency — which is open to debate — it would be the best-performing one in the world in the last 12 months: It has gained more
The Turkish lira hit record lows against the dollar on Monday as expectations of faster tightening by the US Federal Reserve added to domestic economic and political pressures emerging market (EM) equities in general slipped 0.4 percent. The lira was
Talk of Britain dramatically reworking trade ties with the EU after Brexit sent the pound tumbling to two-month lows on Monday, as signals the US could raise interest rates three times this year lifted the dollar. The pound slid around 1 percent against
The Egyptian pound strengthened slightly at banks as demand for dollars by importers eased, bankers told Reuters on Sunday. The dollar was being bought for around 18 pounds at most banks, down from around 19 last week. Banks were paying clients around