Foreign Exchange News

LONDON (AFX) - The euro rose back above the 1.33 level against the dollar as the US currency's gains following better-than-expected US jobs data proved to be short-lived amid talk of Russia buying euros. Data from the Labor Department this afternoon showed US non-farm payrolls rose by 132,000 in November, above market expectations for a gain of around 100,000. Revisions to back data were broadly ...

LONDON (AFX) - The dollar rose after data released this afternoon showed solid US jobs growth in November. At 1.34 pm, the euro fell to 1.3260 from 1.3275 usd just before the data were released, while the dollar rose to 115.76 against the yen from 115.68 previously. The pound also dropped to 1.9576 usd from 1.9591 previously. Data from the Labor Department showed US non-farm payrolls rose by 132 ...

LONDON (AFX) - Major currencies were steady as investors stayed on the sidelines ahead of key US jobs data this afternoon. The consensus is for non-farm payrolls to have increased by around 100,000 in November, though the US ADP data on private sector employment earlier this week suggested that today's number could top expectations. A weak reading would confirm the market's previous view that th ...

SHANGHAI (XFN-ASIA) - The yuan closed at 7.8245 to the US dollar on the over-the-counter (OTC) market, compared with 7.8236 yesterday. On the exchange-traded market, the yuan also ended at 7.8245, compared with yesterday's closing level of 7.8220, according to a Beijing-based dealer with a domestic bank. The currency traded between 7.8228-7.8268 on the OTC market, and between 7.8231-7.8290 on th ...

WASHINGTON (AFX) - President Bush is hoping that a negotiating team crammed with administration luminaries can produce better results than previous efforts in persuading China to help restrain a burgeoning U.S.-China trade gap. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke will lead the team to Beijing next week for two days of talks covering a wide range of econo ...

SINGAPORE (XFN-ASIA) - The US dollar had a firmer tone in afternoon trading here, supported by weak economic data from Japan, as the market awaited the release later today of the US non-farm payrolls report for last month, dealers said. At 3.12 pm here (0712 GMT), the dollar was at 115.29 yen, up from 115.20 yen in Sydney just over 4-1/4 hours earlier. The euro was at 1.3283 usd, down from 1.3287 ...

BEIJING (XFN-ASIA) - Global liquidity poses "exceptional problems" for China, with too much money crossing the border, Merrill Lynch said, adding that the issue is about to worsen. In a research note, Merrill Lynch said not only has China's trade surplus surged to new records, but capital flows are also about to pick up, partly because of the proceeds of initial public offerings being r ...

BEIJING (XFN-ASIA) - China's central bank is not currently considering a widening of the trading band for the yuan against the dollar, the head of the bank's research department said. Tang Xu also told reporters at a banking seminar that money supply growth next year will be similar to this year's level. "The (yuan trading) limit is not an administrative regulation, it's based on the market ...

BEIJING (XFN-ASIA) - The central bank has set the yuan central parity rate at 7.8266 to the dollar, according to the National Foreign Exchange Center. The rate, published on the official Chinamoney website, compares with the midpoint of 7.8305 set the previous trading day. The People's Bank of China (PBoC) started setting a daily central parity rate on Jan 4. On July 21, 2005, China freed the y ...

LONDON (AFX) - The euro was steady after a slightly volatile afternoon as later dovish comments by European Central Bank president Jean-Claude Trichet cancelled out his earlier more hawkish tone, with the market now sitting tight ahead of key US jobs data tomorrow. The ECB this afternoon raised interest rates to 3.50 pct from 3.25 pct in a move which had been widely predicted by the markets. In  ...