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☆ Asian currencies could be on the ‘back foot’ despite likely U.S. rate cuts this year, JPMorgan says
▼ + stars: | 2024-03-13 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

The U.S. dollar is expected to remain resilient despite possible Fed rate cuts this year. Asian currencies could be on the "back foot" this year despite signals that the U.S. Federal Reserve could cut interest rates soon, according to Julia Wang, executive director and global market strategist at JPMorgan Private Bank. Emerging market currencies often stand to gain when the Fed cuts interest rates and the U.S. dollar weakens. "The dollar probably could remain somewhat resilient," Wang told CNBC's Squawk Box Asia on Wednesday. However, Supaat, pointed out that Asian currencies did rally last year when there where expectations that the Fed was going to cut rates.

Persons: Julia Wang, Wang, CNBC's, Saktiandi Supaat, it's, Supaat Organizations: U.S, U.S . Federal, JPMorgan Private Bank, U.S ., Asia Locations: U.S, China

☆ Yen weakens past 145 per dollar, yuan propped by stimulus hopes
▼ + stars: | 2023-06-30 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

SINGAPORE, June 30 (Reuters) - The yen weakened past the closely watched 145 per dollar level on Friday, keeping traders wary of potential intervention by Japanese authorities, while the yuan crept higher as hopes for further stimulus from Beijing gathered steam. The onshore yuan fell to its lowest since November at 7.2615 per dollar shortly after trading opened on Friday, but was last marginally higher at 7.2505 per dollar. "PMIs released... reinforced the need for stimulus support. The Australian dollar , often used as a liquid proxy for the yuan, tracked the Chinese currency higher and rose 0.29% to $0.6635. Further clarity on the bloc's inflation outlook will come later on Friday, with June's flash inflation data due to be released.

Persons: Shunichi Suzuki, Saktiandi Supaat, PMIs, Christopher Wong, Carol Kong, Sterling, Elwin de Groot, Rae Wee, Sam Holmes Organizations: Bank of Japan's, Japan's Finance, Tokyo perked, New Zealand, U.S, U.S . Federal Reserve, Commerce Department, Commonwealth Bank of Australia, Bank of England, Central Bank, Rabobank, Thomson Locations: SINGAPORE, Beijing, Asia, Tokyo, U.S

☆ Yen weakens past key 145 per dollar level; yuan falls after China PMI data
▼ + stars: | 2023-06-30 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, June 30 (Reuters) - The yen weakened past 145 per dollar on Friday, a level which kept speculators wary of potential intervention from Japanese authorities, while a faltering economic recovery in China also kept pressure on the yuan. Its renewed decline has stoked speculation that intervention by Japanese authorities could be imminent, particularly as the level of 145 per dollar first prompted them to shore up the yen in September. The onshore yuan fell to its lowest since November at 7.2615 per dollar shortly after trading opened on Friday. The Australian dollar , often used as a liquid proxy for the yuan, slipped 0.12% to $0.6608. The dollar index steadied at around 103.33 and was heading for a gain of about 0.7% in the second quarter.

Persons: Saktiandi Supaat, Maybank's Supaat, Carol Kong, Sterling, Elwin de Groot, Rae Wee Organizations: Bank of Japan's, People's Bank of China, New Zealand, U.S, U.S . Federal Reserve, Commerce Department, Commonwealth Bank of Australia, Bank of England, Central Bank, Rabobank, Thomson Locations: SINGAPORE, China, Asia, Tokyo, U.S

☆ Yen weakens past key 145 per dollar level as yuan falls after China PMI data
▼ + stars: | 2023-06-30 | by ( ) www.cnbc.com time to read: +3 min

The yen weakened past 145 per dollar on Friday, a level which kept speculators wary of potential intervention from Japanese authorities, while a faltering economic recovery in China also kept pressure on the yuan. Its renewed decline has stoked speculation that intervention by Japanese authorities could be imminent, particularly as the level of 145 per dollar first prompted them to shore up the yen in September. The onshore yuan fell to its lowest since November at 7.2615 per dollar shortly after trading opened on Friday. The Australian dollar , often used as a liquid proxy for the yuan, slipped 0.12% to $0.6608. The dollar index steadied at around 103.33 and was heading for a gain of about 0.7% in the second quarter.

Persons: Saktiandi Supaat, Maybank's Supaat, Carol Kong, Sterling, Elwin de Groot Organizations: Bank of Japan's, People's Bank of China, New Zealand, U.S, U.S . Federal Reserve, Commerce Department, Commonwealth Bank of Australia, Bank of England, Central Bank, Rabobank Locations: China, Asia, Tokyo, U.S

☆ Yen jumps, dollar in retreat ahead of U.S. inflation data
▼ + stars: | 2023-01-12 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The yen last bought 131.50 per dollar. "The report is likely to add to the (yen) optimism," said Saktiandi Supaat, regional head of FX research and strategy at Maybank. Elsewhere, the dollar was adrift ahead of the closely watched U.S. inflation data, which could provide more clarity on how much inflation in the world's largest economy has moderated and on the Federal Reserve's rate-hike path. The U.S. dollar index fell 0.07% to 103.05, not far off its seven-month low of 102.93 hit earlier in the week. Data released on Thursday showed that Australia's trade surplus unexpectedly widened in November and came in well above forecasts.

☆ Yen jumps; dollar tentative ahead of U.S. inflation data
▼ + stars: | 2023-01-12 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The yen last bought 131.92 per dollar. "The report is likely to add on to the (yen) optimism," said Saktiandi Supaat, regional head of FX research and strategy at Maybank. Elsewhere, the dollar stood cautiously steady ahead of the closely watched U.S. inflation data out later on Thursday, which will provide more clarity on how much inflation in the world's largest economy has tamed and on the Federal Reserve's rate-hike path. Australian inflation data released on Wednesday showed that annual inflation re-accelerated to 7.3% in November, after a surprise dip to 6.9% in October, underscoring the challenge facing the Reserve Bank of Australia as it tries to cool the economy. The Chinese offshore yuan rose to a five-month top of 6.7545 per dollar on Thursday.

☆ We're positive on the Malaysian ringgit, Korean won and Singapore dollar, says Maybank
▼ + stars: | 2022-12-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're positive on the Malaysian ringgit, Korean won and Singapore dollar, says MaybankSaktiandi Supaat of the bank says these are currencies that have been underplayed or "seen undershooting for the past six to eight months."

☆ Reaction to China loosening COVID restrictions
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +4 min

Here's what people are saying about the latest moves to ease China's COVID curbs;FRANK BENZIMRA, HEAD OF ASIA EQUITY STRATEGY, SOCIETE GENERALE, HONG KONG"MSCI China has rebounded nicely, valuations have risen and can very gradually normalise. "The next checkpoint will be Chinese New Year; I think markets are looking for further relaxation to facilitate return to their hometowns by Chinese New Year." MITUL KOTECHA, HEAD OF EMERGING MARKETS STRATEGY, TD SECURITIES, SINGAPORE"These are significant steps, and the reality is the current policy had become very difficult to administer given how widespread COVID is in the country. SAKTIANDI SUPAAT, REGIONAL HEAD OF FX RESEARCH & STRATEGY, MAYBANK, SINGAPORE"I think markets have, in some ways, priced in that element (of further easing). I mean, it's better for China to deregulate its COVID restrictions but even if it's a booster for the Chinese economy and commodity prices, that will work negatively for a Fed pause because it tightens monetary conditions."

☆ Reaction to China relaxing COVID restrictions in major policy shift
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +6 min

REDMOND WONG, GREATER CHINA MARKET STRATEGIST, SAXO MARKETS, HONG KONG"The 10 new measures are underwhelming, given the high expectations. GARY NG, ECONOMIST, NATIXIS, HONG KONG"The latest announcements show China is determined to speed up its reopening due to economic pressure. It is likely to see upswings cyclically in business sentiment from suppressed demand, especially in sectors heavily affected by the covid restrictions. "The next checkpoint will be Chinese New Year; I think markets are looking for further relaxation to facilitate return to their hometowns by Chinese New Year." SAKTIANDI SUPAAT, REGIONAL HEAD OF FX RESEARCH & STRATEGY, MAYBANK, SINGAPORE"I think markets have, in some ways, priced in that element (of further easing).

☆ Fragile yen tests 1998 low, sterling holds its breath
▼ + stars: | 2022-10-13 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The yen hit a trough of 146.98 per dollar overnight and last traded at 146.87. Register now for FREE unlimited access to Reuters.com RegisterIt is a whisker away from its August 1998 low of 147.64 per dollar, and well past last month's low of 145.90 per dollar which prompted Japanese authorities to intervene to buy the yen. "It has lost its safe haven appeal," said Rodrigo Catril, a senior currency strategist at National Australia Bank. The Aussie was up 0.02% at $0.6279, after sliding to a 2-1/2-year low of $0.62355 in the previous session. Overnight, data showed that U.S. producer prices increased more than expected last month.

☆ Bank analysts have two big reasons to be bullish on the Singapore dollar
▼ + stars: | 2022-09-27 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +5 min

Why bet on the Singapore dollar? "I believe that investors also associate the strong [Singapore dollar] with Singapore's competence and reliability, as a partner and gateway to the region," Wee said. The Singapore dollar is not as widely traded as currencies of larger economies, Maybank's Supaat pointed out. The Singapore currency is not immune to the strength of the U.S. dollar either, said Wee, who warned that the Singapore dollar could lose its footing as Asia's outperformer should there be a global recession. "This is the main risk, or chief risk, for investors seeking [the Singapore dollar] as a haven," Wee added.

☆ Sterling crumbles to all-time nadir, euro at 20-year low
▼ + stars: | 2022-09-26 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +3 min

Sterling also tumbled 1.3% against the euro, having hit its lowest since September 2020 at 92.60 pence . Kit Juckes, head of currency strategy Societe Generale in London, said markets had a tendency to overshoot but noted two points on sterling's slide. "The second is that the mini budget has allowed sterling to be the short of choice against the dollar." The euro also touched a fresh 20-year trough at $0.9528 , as the pound's slide rippled across markets. China's offshore yuan slid to a new low of 7.1728 per dollar, its weakest since May 2020.

☆ Bank of Japan keeps ultra-low rates, dovish policy guidance
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +11 min

Sept 22 (Reuters) - The Bank of Japan maintained ultra-low interest rates and dovish policy guidance on Thursday, reassuring markets that it will continue to swim against a global tide of central banks tightening monetary policy to combat soaring inflation. "However, we believe that the BOJ will never allocate monetary policy for the FX rate adjustment and will stick to the YCC policy. "The most important thing is how the foreign-exchange rate reacts to that contrast in monetary policy between the U.S. and Japan. It also leaves the impression there will be no change in monetary policy during Kuroda's remaining term." He has said lesser about any merit of the weak yen recently out of consideration towards public sentiment against rising costs of living."

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