US dollar struggles in Asia after lift from retail sales
TOKYO, Aug 14 — The dollar dipped against the yen and euro today after getting a lift from a solid US retail sales report that boosted expectations for a Federal Reserve rate hike as early as next month.
In Tokyo, the greenback changed hands at…
Nine banks agree on US$2b settlement to forex rigging suit
NEW YORK, Aug 14 — Nine major banks accused of foreign-exchange rigging have agreed to pay more than US$2 billion (RM8.13 billion) to investors in settlements, a law firm involved in the process said yesterday.
Plaintiffs have “reached…
Asian currencies set for worst week since 2008, ringgit at 17-year low
KUALA LUMPUR, Aug 14 — Asian currencies headed for the worst week in seven years as China’s surprise yuan devaluation deepened concerns about a slowdown in the world’s second-biggest economy.
Malaysia’s ringgit and Indonesia’s rupiah sank to…
Yuan steady as China central bank halts decline, stocks swing
BEIJING — The yuan stabilised as China’s central bank strengthened its currency’s reference rate for the first time since Tuesday’s devaluation. Asian shares fluctuated, while US oil and industrial metals in London headed for their seventh…
As glut appears to persist, oil heads for seventh weekly drop
NEW YORK, Aug 18 — Oil headed for the longest run of weekly declines since January amid signs the global glut that’s driven prices to the lowest in six years will be prolonged.
Futures were little changed in New York, down 4.2 per cent in the…
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