Foreign Exchange News

HONG KONG (Dow Jones) -- The Bank of China will slash the trading spread on gold trading by up to 20% for 13 weeks beginning next Monday and running until May 27, according to reports carried in the Shanghai Daily Wednesday. The move is part of two reforms designed to make the buying and selling of gold easier and less expensive, the paper said, citing unnamed officials at the bank. Starting ...

The yen fell in European morning trade on Wednesday amid speculation that interest rates may remain at virtually zero for the foreseeable future, despite the impending scrapping of Japan’s ultra-loose monetary policy. // The Bank of Japan is widely expected to end its five-year-old policy of quantitative easing - the pumping of excess liquidity into the banking system - in April, or possibly even ...

The US dollar fell on Tuesday as a triumvirate of disappointing economic reports led to a sell-off of long dollar positions. // Dollar/euro volatility has fallen to multi-year lows in recent weeks as modestly upbeat data in both trading blocs have reinforced expectations for further tightening in both jurisdictions. But today’s newsflow disturbed this status quo, leading Rob Carnell, economist at ING Financial Markets, to argue that a widely expected March US rate rise would prove the last of ...

HONG KONG (Dow Jones) -- Share markets across Asia traded lower Tuesday, dragged down by worries of additional downgrades and overcapacity in the technology sector, while the bulk of new buying was focused in the old-fashioned industrial and consumer sectors. In Tokyo late morning, the Nikkei 225 Average fell 0.83%. The broader Topix index was down 0.6% at 1,647.16. Japan Tobaccorose as much ...

The yen extended its recent rally yesterday as heightened speculation of an imminent end to Japan’s ultra-loose monetary policy led to continued liquidation of short-yen trades. // The move was triggered by indications that the Japanese government is now happy to let the Bank of Japan scrap its five-year-old policy of quantitative easing – the pumping of excess liquidity into the banking system – ...

By Ian Geoghegan SINGAPORE (Reuters) - Asian shares edged higher on Monday, with energy stocks such as Woodside Petroleum Ltd. (WPL.AX: Quote, Profile, Research) in demand after crude prices surged late last week, but a stronger yen prompted selling of exporters such as Sony Corp. The dollar and euro both tumbled more than 1 percent against the yen on expectations the Bank of Japan will soon sc ...