Currencies

AUD/USD rises at the expense of the US Dollar, which is down due to the US credit rating downgrade.US Republicans didn’t pass President Trump’s new tax bill.The RBA lowered its OCR by 25 bps to 3.85% and kept hopes of more interest rate cuts on the table.The AUD/USD pair moves higher to near 0.6460 during European trading hours on Wednesday. The Aussie pair gains as the US Dollar (USD) continues to underperform its peers on the back of the United States (US) Sovereign Credit rating erosion. The US Dollar Index...

Traders were also wary of US officials potentially angling for a weaker dollar at Group of Seven finance minister meetings currently underway in Canada Reuters 21 May, 2025, 12:35 pm Last modified: 21 May, 2025, 12:37 pm US dollar banknotes are seen in this illustration taken May 4, 2025. Photo: REUTERS/Dado Ruvic/Illustration"> US dollar banknotes are seen in this illustration taken May 4, 2025. Photo: REUTERS/Dado Ruvic/Illustration Highlights: Trump failed to convince Republican holdouts who could block bill Bessent to talk currencies with Japanese counterpart on G7 sidelines "Sell America"...

Asian currencies strengthened on Wednesday as the U.S. dollar weakened amid uncertainty over President Donald Trump’s proposed tax reform and heightened caution during the ongoing G7 finance ministers' meeting, which often addresses foreign exchange matters. The U.S. Dollar Index dropped 0.3%, while Dollar Index Futures declined 0.4% during Asian trading hours. The dip followed Trump’s push for congressional Republicans to support a sweeping tax cut bill, though key lawmakers remain unconvinced. If passed, the bill could significantly expand the U.S. fiscal deficit. Last week, Moody’s downgraded the U.S. credit rating...

The Indian rupee's muted reaction in the face of a persistent decline in the dollar has stirred up confusion among bankers, with some citing foreign portfolio and corporate payment-related dollar outflows as reasons for the rupee lagging among peers. On the day, most Asian currencies rose between 0.1% to 0.6% versus the U.S. dollar but the rupee was little changed at 85.61. A similar pattern persisted throughout May, with the rupee declining by about 1% on the month so far even as its regional peers gained. The Korean won, for...

MUMBAI: The Indian rupee weakened on Tuesday as dollar bids from foreign banks, likely on behalf of custodial clients, and a softer Chinese yuan outweighed positive cues from broad weakness in the greenback. The rupee closed at 85.6350 against the US dollar, down about 0.3% on the day. Asian currencies were mixed on the day while the offshore Chinese yuan dipped lower after China cut key benchmark lending rates and corporate seasonal demand for dollars remained high. A fall in local equities also weighed on the rupee, with traders pointing...

MUMBAI: The Indian rupee weakened on Tuesday as dollar bids from foreign banks, likely on behalf of custodial clients, and a softer Chinese yuan outweighed positive cues from broad weakness in the greenback. The rupee closed at 85.6350 against the U.S. dollar, down about 0.3% on the day. Asian currencies were mixed on the day while the offshore Chinese yuan dipped lower after China cut key benchmark lending rates and corporate seasonal demand for dollars remained high. A fall in local equities also weighed on the rupee, with traders pointing...

A long-anticipated stablecoin bill has broken through Senate opposition to bring a key piece of crypto legislation one step closer to becoming law.The bill advanced in a procedural vote that garnered bipartisan support two weeks after Democrats balked at the proposed legislation. Early opposition feared that the bill would enable conflicts in President Donald Trump's crypto dealings, which have drawn scrutiny on both sides of the aisle. While some Democrats continued to staunchly resist the bill this week, an amended version was pushed advanced with a 66-32 vote.With the Genius...

On May 19, 2025, the Chinese Imprints on World Currency Launch and Themed Seminar was held in Beijing. Assistant Foreign Minister Hong Lei attended and addressed the event. Senior diplomats from more than ten countries, including the ambassadors to China of Cabo Verde, Algeria, Fiji, Sri Lanka, and Egypt, attended the event. Nearly 100 guests participated in the event, including Wang Haihuai, General Manager of China Communications Construction Company Limited (CCCC), Wu Shangzhi, President of the China Periodicals Association, as well as heads of relevant central enterprises.Assistant Minister Hong Lei said that currencies of over...

Chocolate confectioner Delfi ran up a 27.2 per cent drop in earnings before interest, taxes, depreciation and amortisation (Ebitda) to US$17 million in the first quarter ended Mar 31, down from US$23.3 million the year before. Net sales fell some 0.5 per cent to US$149.8 million in Q1 2025 from US$150.7 million in the same period a year earlier. In a business update posted on the local bourse on Tuesday (May 20), Delfi attributed the performance to “weaker regional currencies”, particularly the rupiah, as well as to lower sales in...