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☆ The Fed is set to cut rates this year. Here are the Asian currencies that stand to benefit
▼ + stars: | 2024-02-19 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +5 min

Brent Lewin | Bloomberg | Getty ImagesThe U.S. Federal Reserve is expected to cut interest rates later this year and, while that may not be good news for the dollar , some Asian currencies stand to benefit. Higher interest rates boost a country's currency, attracting foreign investment and increasing demand for the country's currency. A weak U.S. dollar is generally positive for emerging markets, which is often the case when the Fed cuts interest rates outside of an economic crisis. Experts told CNBC currencies such as the Chinese yuan , the Korean won and the Indian rupee stand to benefit from the Fed loosening monetary policy. So those are also positive for the Indian currency," said Anindya Banerjee, vice president of currency and derivatives research at Kotak Securities.

Persons: Mahatma Gandhi, Brent Lewin, Yuan, Arun Bharath, Bharath, Simon Harvey , , Anindya Banerjee, Banerjee, South Korea's, Monex's Harvey Organizations: Bloomberg, Getty, . Federal, CNBC, Korean, Bel Air Investment Advisors, People's Bank of, FX, U.S, Kotak Securities, Bank of, Korea's, South Locations: Bangkok, Thailand, China, People's Bank of China, U.S, Bank of India, India, Europe, America

The dollar index , which measures the currency against six major peers, slipped 0.1% to 103.37 and was headed for a monthly loss of more than 3%, its worst performance since November 2022. The market is also eyeing a rate decision from the Reserve Bank of New Zealand and Chinese purchasing managers' index (PMI) data. In other currencies, the euro was little changed against the dollar at $1.0937 . Against the yen, the dollar fell 0.4% to 148.885 yen . The dollar extended losses after data showed U.S. new home sales fell more than expected in October, dropping 5.6% to a seasonally-adjusted annual rate of 679,000 units.

Persons: ECB's Lagarde, Helen, Christine Lagarde's, Gertrude Chavez, Dreyfuss, Samuel Indyk, Rae Wee, Toby Chopra, Mark Potter, Paul Simao Organizations: U.S, Federal Reserve, Monex USA, Fed, European Central Bank, Bank of England, Reserve Bank of New, Australian, greenback, New, Thomson Locations: U.S, Washington, OPEC, Australia, Reserve Bank of New Zealand, New Zealand, China, New York, London, Singapore

☆ NTT Docomo forms capital tie-up with Monex to strengthen financial business
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Oct 4 (Reuters) - Japanese mobile operator NTT Docomo said it formed a capital tie-up with fintech firm Monex Group (8698.T) on Wednesday to build a new financial services business centred on managing its customers' assets. Monex's brokerage unit Monex Inc will form an intermediate holding company in which Docomo will take a 49% stake and make its consolidated subsidiary, Docomo said. Docomo will buy shares of the intermediate holding company from Monex Group for 46.56 billion yen ($312.00 million) and subscribe to a third-party allotment of shares worth 2 billion yen, Monex said. ($1 = 149.2300 yen)Reporting by Satoshi Sugiyama Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

Persons: Docomo, Monex, Satoshi Sugiyama, Chang, Ran Kim Organizations: NTT Docomo, Monex Group, Thomson Locations: TOKYO

☆ Fragile yen is flat as intervention talk in focus
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: +4 min

The index, however, remained within striking distance of a nearly 11-month high of 107.34 reached in the previous session. The Japanese currency was last flat at 149.06 per dollar, after unexpectedly surging nearly 2% at one point on Tuesday to 147.30, its strongest level in three weeks. The Bank of Japan's money market data showed on Wednesday that Japan likely did not intervene in the currency market a day earlier. Sterling climbed 0.3% to $1.2112, rebounding after falling to a nearly seven-month low of $1.20535 in the previous session. The decision sent the kiwi sliding more than 0.2% to a nearly one-month low of US$0.5871.

Persons: Helen, Masato Kanda, James Malcolm, Sterling Organizations: U.S ., ADP, U.S, Monex USA, Tokyo, Analysts, UBS, Federal Reserve, greenback, New Zealand Locations: U.S, Washington, Japan

☆ Dollar eases after Fed-spurred rise; yen stronger ahead of BOJ
▼ + stars: | 2023-09-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

[1/3] Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, January 21, 2016. The Japanese yen strengthened against the greenback before Friday's Bank of Japan policy announcement, while the pound and the Swiss franc slipped after the British and Swiss central banks kept rates unchanged. The BOJ will end its negative interest rate policy next year, the majority of economists said in a Reuters poll, as the market has begun to envisage the demise of its ultra-easy monetary settings. The pound fell to its lowest since March after the Bank of England held interest rates steady on Thursday, following a cooler-than-expected inflation report the previous day. Meanwhile, Sweden's Riksbank and Norway's central bank both raised rates by 25 basis points, in line with expectations.

Persons: Jason Lee, Helen, Powell didn't, BoE, Monex's, Brad Bechtel, Sweden's, bitcoin, Saqib Iqbal Ahmed, Sam Holmes, Shri Navaratnam, Sharon Singleton, Richard Chang Organizations: Hong, REUTERS, U.S, Federal Reserve, Friday's Bank of Japan, Swiss, British, Fed, Monex, ECB, Traders, FX, Jefferies, Bank of England, Swiss National Bank, Thomson Locations: Hong Kong, Swiss, Japan, Swedish, Norwegian

☆ Warren Buffett's trip to Tokyo is seen as a 'stamp of approval' for investing in Japan
▼ + stars: | 2023-04-13 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

Berkshire Hathaway's stakes in all five trading houses is now 7.4%. Buffett's trip is a "stamp of approval" — especially for domestic investors in Japan, according to Monex Group's Jesper Koll. He emphasized Buffett's trip has the potential to boost confidence among Japanese investors as the nation continues to grapple with low consumption. "The real focus is confidence for Japanese investors, and that's where Warren Buffett's visit was very, very important," Koll said. The trading houses have helped grow the Japanese economy and contributed to the globalization of its business.

☆ Dollar rally pauses ahead of Powell speech; Aussie lifted by hawkish RBA
▼ + stars: | 2023-02-07 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

The dollar index , which measures the greenback against a basket of six rivals, made a brief breach of Monday's one-month highs, and was last trading at 103.52, roughly flat on the day. Sterling was last 0.1% higher against the dollar at $1.20275, after tumbling to a one-month low of $1.2006 in the previous session. In Asia, the Japanese yen attempted to make back Monday's losses, with the dollar-yen pair down 0.6% at $131.78, moving away from Monday's one-month low of 132.90 per dollar. A newspaper report on Monday said Japan's government has sounded out Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya to succeed incumbent Haruhiko Kuroda as central bank governor. Reporting by Rae Wee and Susan Mathew; Editing by Muralikumar Anantharaman, Kenneth Maxwell and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

U.S. One dollar banknotes are seen in front of displayed stock graph in this illustration taken, February 8, 2021. World stock markets remained on edge and the dollar maintained its firm tone, given expectations that the Fed would maintain its aggressive tightening path to contain uncomfortably high inflation. We do not think the Fed will hike 100 basis points this week, but the potential is still real," he added. The New Zealand dollar fell to its lowest level since May 2020 of US$0.5933, and was last at US$0.5937 . The Canadian dollar fell to its lowest level in almost two years at C$1.3324 per U.S. dollar .

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