Foreign Exchange News

The dollar rose against the yen and traded little changed against the euro early Wednesday after a government report showed the U.S. economy was stronger than first believed in the first half of the year. The Commerce Department said real gross domestic product for the second quarter was revised to 2.9% annualized from the earlier estimate of 2.5%. The economy grew 5.6% in the first quarter. Th ...

NEW YORK (AFX) - Stocks were narrowly mixed Wednesday after the government's latest gross domestic product report showed that the economy might be slightly stronger than previously thought. The Commerce Department said the economy as measured by the GDP grew at a 2.9 percent annual rate in the second quarter, better than first estimated last month but still a decline from the first quarter.  ...

U.S. stocks finished higher Tuesday, as investors focused on a drop in crude prices, looking past Federal Reserve monetary policy meeting notes that provided few decisive clues about the central bank's next interest rate move. The notes showed that the Fed has cut its growth forecast, but also is leaving open the option of further rate increases. The Dow Jones Industrial Average (DJI) closed ...

LONDON (AFX) - The dollar barely budged on the news that the US economy grew by more than was first estimated during the second quarter of the year. The US government revised its estimate of second-quarter economic growth up to 2.9 pct from the initial 2.5 pct. The revision was largely in line with Wall Street's 3.0 pct consensus forecast. Analysts said the upward revision will do little to expe ...

BEIJING (XFN-ASIA) - The yuan ended at 7.9587 to the dollar on the over-the-counter (OTC) market, compared to a close of 7.9622 yesterday, traders said. The yuan traded between 7.9605-7.9565, according to a dealer with a domestic bank. On the exchange-traded market, which closed at 3:30 pm, the yuan ended at 7.9585, stronger than yesterday's close 7.9605 which was the highest finish yet against  ...

LONDON (AFX) - The Swedish krona eased back slightly as investors reacted in disappointment to the quarter point rate hike in the country. Markets had been betting on a bigger rise. Today's rate verdict saw the benchmark rate rise to 2.50 pct. The hike was the fourth this year and more are predicted as inflation and growth are expected to exceed previous forecasts. Analysts at CALYON, for one, b ...

SHANGHAI (XFN-ASIA) - A-shares in Shanghai and Shenzhen closed slightly higher, bolstered by expectations for a further continuation of a strong yuan, with property and tourism stocks in favor, dealers said. The benchmark Shanghai Composite Index, which covers both A- and B-shares listed on the Shanghai Stock Exchange, closed up 4.17 points, or 0.25 pct, at 1,655.20. Turnover fell to 17.23 bln y ...

SINGAPORE (XFN-ASIA) - The US dollar was firmer against the yen but little changed against the euro in afternoon trading here as the market cautiously awaited the release this week of further US economic data, dealers said. At 3.31 pm (0731 GMT) here, the dollar was at 117.08 yen, up from 116.81 yen in Tokyo just over four hours earlier. The euro was at 1.2828 usd, up from 1.2826 in Tokyo. The d ...

SHANGHAI (XFN-ASIA) - B-shares in Shanghai and Shenzhen closed higher with real estate developers snapped up on expectations of further yuan appreciation, dealers said. The Shanghai B-share Index rose 0.19 points to 91.69 on turnover of 96.99 mln usd and the Shenzhen B-share Index was up 0.08 points at 291.56 on turnover of 103.62 mln hkd. "The hard currency markets followed strength in the ...

SHANGHAI (XFN-ASIA) - The yuan posted its highest close yet against the US dollar on the exchange-traded foreign exchange market, ending at 7.9585, against the previous trading day's 7.9605, traders said. The yuan traded between 7.9564 and 7.9585 during the day, according to a dealer with a domestic bank based in Guangzhou. The intraday high of 7.9564 yuan per dollar was also the strongest level ...