Welcome to GulfBase Live Support
The yuan fell by the most in a week against the dollar as China’s central bank doubled the daily trading band, reflecting declines in emerging-market currencies.
The People’s Bank of China now allows 1 percent moves from a daily fixing, after keeping the limit at 0.5 percent since May 2007. The Dollar Index, tracking the greenback against currencies of trading partners, climbed 0.2 percent, after a 0.8 percent jump on April 13, amid concern Europe’s debt crisis is worsening. One-month implied volatility for the yuan, a measure of exchange-rate swings used to price options, jumped 20 basis points to 2.5 percent, the highest since March 14.
“The yuan is weaker as investors are again worried about Europe and a bit on China’s growth,” said Tommy Ong, the Hong Kong-based senior vice president of treasury and markets at DBS Bank (Hong Kong). “It’s an opportune time for China to widen the band when appreciation expectations aren’t so strong. That won’t induce any massive speculative bets on its currency.”
For more on this Click Here
he risk of a no-deal Brexit is playing on investors’ minds. The European Union is likely to confirm this week that Brexit talks have not made sufficient progress to move onto discussions about a fut
World stocks advanced for a fourth straight day on Friday on expectations of broad-based global growth, while the dollar was on course for its worst week in five as investors awaited US inflation dat
October blues are starting to weigh on the pound — again. Sterling is headed for its worst week in a year as questions swirl about whether Theresa May will stay or go, even as the prime minister sai
Most major currencies will hold on to their gains made in 2017 against the dollar over the coming year, according to a Reuters poll of currency strategists who were not entirely convinced of the U.S.
The dollar extended gains to an almost three-month high and Treasury yields rose as confidence in the world’s largest economy grows in the buildup to the latest jobs data. European shares edged lower