Currencies

This is CNBC's live blog covering Asia-Pacific markets. Asia-Pacific stocks mostly climbed after China's central bank and financial regulators announced sweeping plans to cut key interest rates in an effort to shore up growth in the face of trade worries. Hong Kong's Hang Seng index rose 0.5% while mainland China's CSI 300 climbed 0.61% to close at 3,831.63. Japan's benchmark Nikkei 225 lost 0.14% to close at 36,779.66 while the Topix rose 0.31% to close at 2,696.16. South Korea's Kospi added 0.55% to close at 2,573.8 while the small-cap Kosdaq lost...

South-east Asia’s exporters are facing a double whammy: a fresh surge in regional currencies in May and the looming end of US President Donald Trump’s 90-day tariff pause in July. Export-oriented economies facing potential new US levies and already grappling with structural competitiveness issues are especially at risk, warned experts.Thailand stands out on all three counts as among the most vulnerable across the region to sharp currency spikes, which will certainly hurt exports over time, said MUFG Bank’s senior currency analyst Michael Wan.May’s monetary rally pushed several major Asean currencies...

BEIJING – China signalled that it is not ready to let the yuan strengthen dramatically against the US dollar, helping restore calm to Asia’s foreign-exchange market after days of extreme volatility. The People’s Bank of China (PBOC) kept its daily reference rate for the yuan steady as it returned from a public holiday, pushing back against a recent rally in the offshore version of its currency – and making clear to traders that the dollar’s rout in Asia will not all be one-way traffic. The country said it would hold...

Asian markets are expected to open cautiously on May 7 as investors await a crucial policy decision from the US Federal Reserve and monitor developments in global trade negotiations. Market sentiment remains fragile amid mixed economic data from China, volatile currency movements, and ongoing geopolitical tensions in South Asia. The region’s equities may see range-bound trading with pockets of volatility as traders balance optimism around easing tariffs with concerns over inflation and interest rate trajectories.On May 6, Asia-Pacific markets ended on a mixed note. Mainland China’s CSI 300 index rose...

Wed May 7, 2025 12:00 AM Last update on: Wed May 7, 2025 12:00 AM

USD remains offered across the board as investor flows shift sharply into Asia, following a record 6% two-day surge in the Taiwan dollar (TWD) and strong gains in the Korean won (KRW), Chinese yuan, and Thai baht (THB). Markets are reassessing US asset exposure amid weakening U.S. growth and erratic trade policies, with the greenback under sustained pressure.Asian selling continues, amplified by speculation that Taiwan and other regional economies may be allowing currency appreciation to ease trade tensions with Washington. The Singapore dollar (SGD) and Malaysian ringgit (MYR) have also...

The U.S. dollar faced struggles on Tuesday, marked by impatient investors awaiting progress on expected U.S. trade deals. Asian currencies took a breather after an unprecedented two-day rise, emphasizing the dollar's fragility. The yen saw the dollar drop 0.57% to 142.87, while the British pound gained 0.56% to $1.3371.Jane Foley, head of FX strategy at Rabobank, noted a decline in last week's optimism linked to potential trade deals. Market participants are growing concerned about company warnings regarding economic damage from tariffs. Recent investor optimism about potential U.S. deals slashing...

Tanzanian government banned the use of foreign currencies, including Kenya shilling, to salvage its ailing local currencyThe move meant that all transactions pertaining Kenya shillings or the US dollar are not accepted in the countryAccording to the Central Bank of Kenya, the Kenya shilling exchanged at KSh 20.77 per Tanzanian shilling as of Tuesday, May 6Speaking exclusively to TUKO.co.ke, market analyst Rufas Kamau explained what makes Kenya shilling bullish against other regional and international currenciesWycliffe Musalia has over six years of experience in financial, business, technology, climate, and health reporting,...

A powerful wave of dollar selling across Asia has shaken global currency markets, led by Taiwan’s explosive 10% rally in just two days. The movement is now reverberating through South Korea, Singapore, China, Malaysia, and Hong Kong—suggesting a broad shift in investor sentiment. Analysts are calling the trend an “Asian crisis in reverse.” In contrast to the capital flight seen during the 1997–98 financial crisis, capital is now flowing back into Asia—marking a stark reversal in global money flows. Trump Tariffs Erode Faith Experts blame U.S. President Donald Trump ’s...

(Photo: Reuters) SINGAPORE - A wave of dollar selling in Asia is an ominous sign for the greenback as the world’s export powerhouse starts to question a decades-long trend of investing its big trade surpluses in US assets.Ripples from a record rally in the Taiwan dollar on Friday and Monday are now spreading outward, driving surges for currencies in Singapore, South Korea, Malaysia, China and Hong Kong. The Thai baht has also been on the rise, trading around 32.62 to the dollar on Tuesday, compared with 34.88 baht a month...