Foreign Exchange News Results

  • China Says Foreign-Exchange Market Expectations Overall Steady

    BEIJING--Expectations for the yuan exchange rate remained largely steady despite increased market volatility, the country's foreign exchange regulator said Thursday. Market participants have been acting in a "rational and orderly" manner, although volatility has risen notably in since August, the State Administration of Foreign Exchange said in a statement on its website. The country's commercial banks sold a net $5.4 billion of foreign exchange last month, down from $6.1...

  • China Central Bank Net Foreign Exchange Sales Highest in 9 Months

    BEIJING--China's central bank said its foreign exchange sales rose to a nine-month high in August amid a sharp drop in the yuan against the U.S. dollar. The central bank sold a net 8.37 billion yuan in foreign exchange last month, compared with net sales of CNY708 million in July, according to data released by the People's Bank of China Thursday. China let the currency break through the psychologically important level of CNY7 to the dollar in early-August to help alleviate the...

  • Strong U.S. Dollar Prompts Speculation of Trump Intervention

    For decades, U.S. currency policy was to, in effect, have no policy. Administrations seldom intervened in markets, advised other countries to do the same and claimed a strong dollar was in the country's interest. President Trump has already disavowed support for a strong dollar, and officials have considered whether to use currency intervention as a weapon in their trade war.

  • ECB Move Highlights Differences Between Eurozone, U.S. Economies

    The European Central Bank's decision Thursday to lower its key interest rate further below zero while relaunching an asset-purchase program means monetary policy in Europe is now even more stimulative than in the U.S. That prompted a strong response from President Trump, who complained in a tweet that the ECB is weakening the euro against the U.S. dollar and thus "hurting U.S. exports," while the Federal Reserve "sits, and sits, and sits." The Fed cut its benchmark rate by a quarter...

  • Denmark's Central Bank Follows ECB and Cuts Key Deposit Rate Further Into Negative Territory

    Denmark's Central Bank cut its key deposit rate further into negative territory Thursday, following a similar move by the European Central Bank earlier in the day, as it moved to keep the Danish currency steady against the euro. The Danish central bank, known as Danmarks Nationalbank, cuts its interest rate on certificates of deposit by 0.1 percentage point to -0.75% from -0.65%. The bank's main policy goal is to keep the euro's exchange rate within 2.25% above or below 7.46038...

  • Why Rate Cuts in Europe Could Do More Harm Than Good -- Update

    The European Central Bank launched a fresh wave of loose-money policies Thursday to jolt its stubbornly low inflation rate. But many suspect its primary target was something else: the euro. The central bank cut interest rates and revived a bond-buying program at President Mario Draghi's penultimate meeting.

  • Why Rate Cuts in Europe Could Do More Harm Than Good

    The European Central Bank launched a fresh wave of loose-money policies Thursday to jolt its stubbornly low inflation rate. But many suspect its primary target was something else: the euro. The central bank cut interest rates and revived a bond-buying program at President Mario Draghi's penultimate meeting.

  • Why Rate Cuts in Europe Could Do More Harm Than Good

    The European Central Bank is likely to launch a fresh wave of loose-money policies Thursday to jolt its stubbornly low inflation rate. But many suspect its primary target is something else: the euro. The central bank is expected to cut interest rates and revive a bond-buying program at President Mario Draghi's penultimate meeting.

  • Global Currency Decline Bruises Investors -- Update

    Currencies around the world are tumbling to multiyear lows, bruising investors' portfolios and fanning the flames of a global trade war. The Chinese yuan recently hit its lowest level in more than a decade against the dollar, the euro dropped to a fresh two-year low last week and the British pound is at depths it hasn't consistently plumbed since the 1980 s. Some emerging-market currencies such as the Colombian peso have fallen to their lowest prices on record against the dollar,...

  • Global Drop in Currencies Bruises Investors

    Currencies around the world are tumbling to multiyear lows, bruising investors' portfolios and fanning the flames of a global trade war. The Chinese yuan recently hit its lowest level in more than a decade against the dollar, the euro dropped to a fresh two-year low last week and the British pound is at depths it hasn't consistently plumbed since the 1980 s. Some emerging-market currencies such as the Colombian peso have fallen to their lowest prices on record against the dollar,...

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