Currencies

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,...

Asian currencies turbocharged by dollar weakness are attaining rarely seen superlatives and triggering central bank intervention to curb excessive gains.The Hong Kong Monetary Authority on Friday sold a record amount of local dollars to prevent its advance and protect the currency’s 42-year-old peg to the greenback. Taiwan’s central bank also intervened as its currency soared the most since 1988. The offshore yuan rallied to its strongest since November.The volatility shows how an exodus from the world’s reserve currency can ripple through financial markets, as President Donald Trump’s shifting tariff policies...

HONG KONG – Asian currencies turbocharged by US dollar weakness are triggering central bank intervention to curb excessive gains.The Hong Kong Monetary Authority on May 2 sold a record amount of local dollars to prevent its advance and protect the currency’s 42-year-old peg to the greenback. Taiwan’s central bank also intervened as its currency soared the most since 1988. The offshore yuan rallied to its strongest since November.The volatility shows how an exodus from the world’s reserve currency can ripple through financial markets, as President Donald Trump’s shifting tariff policies...

This content was published on May 5, 2025 - 09:24 (Bloomberg) — The dollar weakened and US equity-index futures dropped, threatening to end the S&P 500 Index’s longest winning streak in two decades, as uncertainty about US trade policy hung over markets. Crude oil slumped after OPEC+’s latest supply increase.A gauge of the greenback declined for a second day and contracts for the S&P 500 retreated 0.7% after President Donald Trump said he had no plans to talk to his Chinese counterpart this week, though he signaled trade deals with...