Foreign Exchange News Results

  • EU Commission Fines Five Banks for Forex Spot Trading Cartel

    The European Commission said Thursday that it has fined Barclays PLC (BCS), UBS Group AG (UBS), HSBC Holdings PLC (HSBC), Royal Bank of Scotland and Credit Suisse Group AG (CS) a total of 344 million euros for participating in a foreign- exchange spot trading cartel. "The Commission's investigation revealed that some traders in charge of the forex spot trading of G10 currencies, acting on behalf of the fined banks, exchanged sensitive information and trading plans, and occasionally coordinated their...

  • Infineon Assumes EUR/USD at 1.20 for Fiscal 1Q -- Currency Comment

    Infineon Technologies AG (IFNNF) assumes the euro will average $1.20 against the dollar within its guidance for the first quarter of fiscal 2022.. The German chip maker's prediction is the same it is using for the full fiscal year ending Sept. 30, 2022. The euro currently trades at $1.1578. Infineon's (IFNNF) assumption of $1.20 is higher than the roughly $1.18 estimated by peer chip maker STMicroelectronics NV (STM) at the end of October when it issued guidance for its fourth quarter that will close...

  • Danone 3Q Sales Boosted By Exchange Rate Impact -- Currency Comment

    Danone SA's (GPDNF) third-quarter sales were boosted by the appreciation of the Chinese renminbi, the Mexican peso and the British pound against the euro, while the U.S. dollar and other emerging currencies remained stable. The French food company said quarterly sales of 6.16 billion euros benefited from the positive impact of an exchange rate of 0.8%. Sales were up 3.8% organically on year, driven by 4.6% in value and 0.8% in volume.

  • Singapore Central Bank Surprises With Policy Tightening -- Update

    Singapore's central bank unexpectedly tightened its currency policy to cushion against inflationary pressures arising from strengthening global demand amid a global supply-chain crunch. The Monetary Authority of Singapore said Thursday that it will "slightly" increase the slope of the Singapore dollar nominal effective exchange rate policy band from the current slope of zero. Twelve of the 14 economists polled by The Wall Street Journal had expected the central bank to...

  • China's Forex Reserves Fell in September

    China's foreign-exchange reserves fell $31.5 billion in September from a month earlier, official data showed Thursday, as capital inflows rose and other currencies in the country's reserves weakened due to the dollar's appreciation. The nation's forex reserves--the world's largest--stood at $3.200 trillion at the end of September, down from $3.232 trillion at the end of August, according to the People's Bank of China. Economists polled by The Wall Street Journal had...

  • China's August Foreign-Exchange Reserves Fell on Month

    China's foreign-exchange reserves in August fell $3.77 billion on month, official data showed on Tuesday, as capital flows into the bond market offset the impact of foreign exchange fluctuations. The nation's foreign-exchange reserves--the world's largest--stood at $3.232 trillion at the end of August, down from $3.236 trillion at the end of July, according to the People's Bank of China. Economists polled by the Wall Street Journal expected reserves to be at $3.233 trillion.

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