Currencies

GBP/USD stabilizes near 1.3500 following Tuesday's bearish action.Technical sellers could look to retain control if GBP/USD breaks below 1.3500.In the absence of high-tier data releases, markets will focus on FOMC Minutes.GBP/USD trades in a narrow channel slightly above 1.3500 on Wednesday after closing in negative territory and snapping a six-day winning streak on Tuesday. The pair's technical outlook is yet to point to a bearish reversal but sellers could take action if the pair flips 1.3500 into resistance. British Pound PRICE This week The table below shows the percentage change...

Asian currencies edged lower on Wednesday as the U.S. dollar strengthened following better-than-expected consumer sentiment data. The U.S. Dollar Index rose 0.3% during Asian trading, supported by a positive economic outlook, while Dollar Index Futures mirrored the gain. The Japanese yen weakened further, with USD/JPY up 0.2% after a near 1% rise on Tuesday. Market attention turned to Japan’s 40-year bond auction, as yields on 20-, 30-, and 40-year government bonds recently surged to record highs. A Reuters report indicated that Japan’s Ministry of Finance may reduce super-long bond issuance...

Over the weekend Niti Aayog CEO BVR Subrahmanyam declared that India had overtaken Japan to become the fourth-largest economy in the world. He based this claim on data from the International Monetary Fund (IMF).This claim reportedly led to two fairly divergent reactions.First, a wave of self-congratulation among Indians who take this particular detail as a clinching argument that the government of the day has brought about a fundamental improvement in India’s economy.Second, an examination of the claim and a counter-assertion, again based on IMF data, that India is still the...

This is an audio transcript of the FT News Briefing podcast episode: ‘Rio Tinto’s surprise CEO hunt’Marc FilippinoGood morning from the Financial Times. Today is Wednesday, May 28th, and this is your FT News Briefing. US stocks came out the long weekend with some pep in their step. And Asian currencies are having a party of their own. Plus, Rio Tinto is on a surprise hunt for a new CEO. I’m Marc Filippino, and here’s the news you need to start your day. Investors on Wall Street got excited by...

Asian equities rose on Wednesday following a Wall Street rally as traders cheered forecast-beating US consumer confidence data and a drop in bond yields, with eyes now on a key sale of Japanese debt.New York investors returned to their desks after a long weekend break in a good mood after Donald Trump delayed until July the 50 per cent tariffs he announced out of the blue on Friday, sparking a market rout.The US president’s announcement Sunday soothed worries about a fresh flare-up in his trade war that has rattled global...

An Indian man robbed nearly 100,000 baht from a currency exchange shop in the Bangrak district of Bangkok on Monday and performed a wai before fleeing the scene. He was ultimately arrested yesterday, May 27. Officers from Bangrak Police Station received complaints from two currency exchange shops in the area: X-ONE Currency Exchange Centre on Surawong Road and WISE Exchange on Silom Road. A foreign man, whose nationality was initially unknown, approached staff at both locations, threatened them with a gun, and demanded money. The suspect failed to steal money...

BENGALURU: Asian currencies reversed course to trade lower on Tuesday as a rally in global bonds whipsawed markets that remained concerned about US fiscal health and President Donald Trump’s erratic trade policies. The Malaysian ringgit fell 0.3% against a stronger dollar after reaching a three-week high earlier in the session. The Singaporean dollar, Indonesian rupiah, and the Indian rupee weakened between 0.2% and 0.4%. US Treasury yields slumped after 30-year bonds mimicked a steep price rally in longer-term Japanese debt and as investors mulled the latest developments in US tariff...

Japan’s Finance Minister Shunichi Kato said on Wednesday that he will closely monitor bond market situations as he is concerned about a recent spike yields in Japan.This comment came after two sources told Reuters on Tuesday that Japanese officials will consider trimming issuance of super-long bonds in the wake of recent sharp rises in yields for the notes. The Ministry of Finance (MOF) will make a decision after discussions with market participants around mid- to late-June, the sources said.Market reaction  At the time of writing, the USD/JPY pair is trading 0.28% lower on the...

Imagine you are planning the funeral music for a loved one who has died. You can't remember their favourite song, so you try to login to their Spotify account.Then you realise the account login is inaccessible, and with it has gone their personal history of Spotify playlists, annual "wrapped" analytics, and liked songs curated to reflect their taste, memories, and identity. We tend to think about inheritance in physical terms: money, property, personal belongings. But the vast volume of digital stuff we accumulate in life and leave behind in death...

The value of the Taiwan dollar (TWD) against the US dollar jumped by approximately 10 percent in a few days in May. This sparked public speculation and concern over any undisclosed concessions made by President Lai Ching-te’s government to secure a trade deal with President Donald Trump. The Central Bank of the Republic of China (CBC, commonly known as Taiwan’s central bank) intervened to curb the spike in the TWD.As JPMorgan stated, “Such pronounced volatility is extremely rare for the TWD, given that the currency is highly managed” by the...