Foreign Exchange News

LONDON (Thomson Financial) - The dollar continued to decline across the board following yesterday's weak US data, and pressured by risk aversion following the assassination of Pakistani opposition leader Benazir Bhutto. The death of Bhutto yesterday led to a flight to safety, boosting demand for the yen as demand for the carry trade waned, while the Swiss franc also benefited due to its perceived ...

LONDON (Thomson Financial) - The dollar fell across the board, coming under further pressure after a string of weak US data, while yet another disappointing report on the UK housing market pushed the euro to fresh record highs against the pound. Yesterday's unexpectedly weak US durable goods orders data added to fears about the state of the US economy and increased the likelihood that the Federal ...

MANILA (Thomson Financial) - The Philippines' total foreign debt at end-September rose 2.6 percent to 54.4 billion US dollars compared to end-June due to revaluation adjustments arising from the weakening of the dollar, the central bank said Friday. But major debt ratios continued to improve because of the domestic economy's sustained growth, higher foreign exchange inflows, and growing internati ...

LONDON (Thomson Financial) - The euro touched another record high against the pound as yet more bad news on the UK housing market raised the chances that the Bank of England could opt for a back-to-back interest rate cut next month. The Nationwide reported that UK house prices fell by 0.5 pct in December from November, marking the second consecutive fall following a 0.8 pct drop the previous mont ...

MANILA (Thomson Financial) - Philippine shares trimmed losses halfway through the session on Friday as investors resumed sprucing up their portfolios for the year-end. Share prices recovered some losses made earlier when investors reacted negatively to the assassination of Pakistani opposition leader Benazir Bhutto and on downbeat US economic data that triggered a sell-off on Wall Street. Financ ...

LONDON (Thomson Financial) - US SUMMARY: Stocks lose ground after Benazir Bhutto's death, oil rises Index Change Pct change DJIA 13,359.61 -192.08 -1.42 NASDAQ 2,676.79 -47.62 -1.75 S&P 500 1,476.27 -21.39 -1.43 Nymex crude for Feb 96.62 usd +65 cents 10 yr US treasury 4.1 ...

TOKYO (Thomson Financial) - After a grim 2007, Japanese shares are expected to remain under pressure in the first half of 2008 as the US housing and credit market crisis persists, keeping the dollar weak against the yen and slowing growth in Japan's biggest overseas market. Investors will be watching to see how much more subprime loan-related losses hurt financial institutions in the US and Europ ...

MANILA (Thomson Financial) - Philippine shares are expected to open lower Friday after the assassination of Pakistani opposition leader Benazir Bhutto stoked geopolitical concerns while downbeat US economic data triggered a selloff on Wall Street. Financial markets were shaken after Bhutto's assassination, prompting investors to shift to US Treasury bonds, sending yields lower. The dollar also fe ...

HONG KONG (Thomson Financial) - Hong Kong has already cemented its reputation as an international finance hub in Asia, where investors go to buy or sell bonds, currencies and stocks. But the island is not resting on its laurels. With an increasing threat from Singapore and other emerging finance centers in the region, Hong Kong is going after the 1 trillion US-dollar Islamic finance market to enh ...

BEIJING (XFN-ASIA) - The central bank has set the yuan central parity rate at record 7.3079 to the dollar, according to the China Foreign Exchange Trading System. The rate, published on the official Chinamoney website (www.chinamoney.com.cn), compares with the midpoint of 7.3298 set the previous trading day. The People's Bank of China (PBoC) started setting a daily central parity rate on Jan 4,  ...