Currencies

NEW YORK :The U.S. dollar was mostly lower against major currencies, including the yen and the euro, on Monday as markets weighed continued uncertainty from President Donald Trump's policies and their impact on the economy.The greenback slid to a fresh record low against the Taiwan dollar to 28.8150 amid speculation that Taiwan was letting its currency appreciate as part of a trade deal with the U.S., or at least was unwilling to intervene to stop it rising alongside sharp inflows in capital.Trump doubled down on tariff-driven policies during an interview...

The U.S. dollar has been a symbol of American power for decades. Of the $7.5 trillion in global currency transactions that take place each day, some 90 percent feature the dollar. The majority of central banks see it as the core of their reserves. Consumers run to it in times of stress. Businesses prefer it for trade invoicing, whether they are based in Milwaukee or Malaysia.The dollar may not lose its globally dominant role anytime soon. After all, there isn’t an obvious alternative waiting in the wings. But it is...

SINGAPORE – Asian currencies rallied on May 5 on hopes of a thaw in the US-China trade war and regional tariff deals with the Trump administration.  Taiwan led the charge, with its currency surging as much as 5 per cent, the biggest intraday gain in over three decades, on speculation that exporters are rushing to convert their holdings of US dollars to the island’s currency. The Taiwan dollar has advanced more than 10 per cent over the past month. Malaysia’s ringgit advanced 1.3 per cent to its strongest since October 2024,...

Asian FX markets have seen wild swings in recent days. by Tian Chen and Matthew Burgess Asian currencies ripped higher against the US dollar Monday, extending a move that’s hurting exporters, weighing on equities and forcing central banks to intervene in the market to curb excessive gains. Taiwan’s dollar surged the most since 1988, sending the nation’s benchmark stock index to its steepest slide in nearly a month. The offshore yuan climbed to its highest level in almost six months as exporters repatriated dollar earnings. The Hong Kong dollar held at the...

Asian market sentiment was mixed on Monday, with Australian shares retreating, and most major markets closed for public holidays. Investors digested the implications of Prime Minister Anthony Albanese securing a historic second consecutive term—Australia’s first in over two decades—while Indian equities climbed on positive investor sentiment and a strong rally in Adani Group stocks. Meanwhile, oil prices plunged and Asia-Pacific currencies strengthened against a weaker US dollar.Australian markets dip despite Albanese’s re-election Copy link to section Australian equities reversed early gains, with the S&P/ASX 200 falling 0.97% to close at...

Trump trade policy 2025: There seems to be nary a dull moment in tracing the onslaught of the US president’s tariff announcements, and the snowballing effect worldwide.Over the weekend, China, the recipient of 145% in US tariffs, signalled its willingness to embark on talks with the US, provided the US walked back these punitive measures. This was picked up by Asian markets, which have seen their currencies hit record highs against the USD. Decline in the dollar boosting the ‘Sell America’ wave The dollar’s decline continued over the weekend, as...

Asian currencies rallied on Monday (May 5) on hopes of a thaw in the US-China trade war and regional tariff deals with the Trump administration. Taiwan led the charge, with its currency surging as much as 5 per cent, the biggest intraday gain in over three decades, on speculation exporters are rushing to convert their holdings of US dollars to the island’s currency. The Taiwan dollar has advanced more than 10 per cent over the past month. Malaysia’s ringgit advanced 1.3 per cent to its strongest since October 2024, while South Korea’s...

Litecoin (LTC) price hovers at $86 during the Asian session on Monday, up slightly on the day even as the wider crypto market consolidates, following April’s recovery. Meanwhile, Bloomberg analyst James Seyffart believes that the spot Litecoin Exchange Traded Fund (ETF) proposal by Canary Capital has a higher probability of approval than other assets. Ethereum price faced resistance around the daily level of $1,861 on Friday and declined 1.87% over the next two days. At the time of writing on Monday, it continues to trade down at around $1,795. If ETH continues...

SINGAPORE – Asian currencies rallied on May 5, spurred by hopes of a thaw in the US-China trade war and regional tariff deals with the Trump administration.  Bloomberg’s gauge of Asian currencies hit a six-month-high, with Taiwan’s dollar soaring 2.7 per cent, the most since 1988. Meanwhile, Malaysia’s ringgit advanced 1.3 per cent to its strongest since October 2024, while South Korea’s won also strengthened by 1.3 per cent. Singapore’s currency was up 0.6 per cent to 1.292 per US dollar as at 12.07pm local time. This brought its advance to date in...

Gold prices rose in India on Monday, according to data compiled by FXStreet. The price for Gold stood at 8,824.17 Indian Rupees (INR) per gram, up compared with the INR 8,784.65 it cost on Friday. The price for Gold increased to INR 102,923.40 per tola from INR 102,462.40 per tola on friday. Unit measure Gold Price in INR 1 Gram 8,824.17 10 Grams 88,241.72 Tola 102,923.40 Troy Ounce 274,462.60   Daily Digest Market Movers: Gold price attracts some safe-haven flows amid rising geopolitical tensions In an interview broadcast on Sunday,...