Yen strengthens in Asian trade

The yen strengthened in Asian trading on Tuesday after tumbling in New York while a US Treasury official praised Japan's recent moves to boost the economy as Tokyo faces claims it is manipulating the unit.

The dollar bought 94.04 yen, from 94.33 yen late Monday in New York, where it had surged more than 2.60 yen.

The euro fetched 125.81 yen on Tuesday, from 126.42 yen in New York, while it also bought $1.3382, compared with $1.3404.

Lael Brainard, who will lead the US delegation to Friday's meeting of the Group of 20 economic powers in Moscow, called on members to "move to market-determined exchange rates and refrain from competitive devaluation".

Brainard reiterated a US call for China -- a frequent target of currency manipulation criticism -- to let the yuan float more freely in the market.

She also welcomed Japan's efforts to boost growth and counter deflation -- which have sent the yen tumbling -- suggesting Washington would not support any criticism of Tokyo at the G20 meeting.

European officials, meanwhile, have warned that the euro was overvalued -- threatening the bloc's exports and economic recovery -- and hinted at market intervention to stem the unit's rise.

Tokyo on Tuesday again rejected claims it was trying to force down the yen, saying the new conservative government's big spending and pressure on the central bank for aggressive easing was designed to stoke growth.

"There is no change in Japan's position," Finance Minister Taro Aso told reporters.

"Japan's new government is carrying out monetary policy and economic policy appropriately in order to pull out of a long-running, deflation-induced downturn. There is nothing more to say."

Japan's finance ministry declined to comment on a report that the Group of Seven leading economies was mulling a joint statement about the dangers of a currency war.

Forex markets were also awaiting a two-day Bank of Japan policy meeting this week as Governor Masaaki Shirakawa prepares to step down about three weeks before the end of his five-year term.

The dollar was largely stronger against other Asia-Pacific currencies, firming to Sg$1.2440 from Sg$1.2398 on Friday, to Tw$29.77 from Tw$29.66, to 53.92 Indian rupees from 53.52 rupees, to 29.88 Thai baht from 29.79 baht, and to 40.70 Philippine pesos from 40.68 pesos.

The greenback slipped to 1,093.00 South Korean won from 1,093.80 won and to 9,636 Indonesian rupiah from 9,678 rupiah.

The Australian dollar weakened to $1.0248 from $1.0284, and China's yuan bought 15.08 yen against 14.97 yen.

Asian forex markets were closed on Monday for a public holiday.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • U.S. banking regulators focused on cyber security after SWIFT attacks
    U.S. banking regulators focused on cyber security after SWIFT attacks Reuters - 9 minutes ago

    U.S. banking regulators said on Wednesday they are focused on cyber security risks and controls for U.S. financial institutions after attacks earlier this year involving the global financial network known as SWIFT. In a letter responding to … More »

  • Dismal time for Gulf oil = record low lease bidding
    Dismal time for Gulf oil = record low lease bidding Associated Press - 21 minutes ago

    The federal government's annual sale of oil and gas leases in the Gulf of Mexico attracted hardly any interest on Wednesday, reflecting a dismal outlook for offshore drilling. Only three oil companies ... … More »

  • HP Inc forecasts weak profit on low demand for printers
    HP Inc forecasts weak profit on low demand for printers Reuters - 26 minutes ago

    (Reuters) - HP Inc (HPQ.N) forecast fourth-quarter profit below analysts' estimates as the company, which was split off from the former Hewlett-Packard Co, struggles with weak demand for its printers. ... … More »

  • The Latest: Quake rescue work suspended at Italian hotel
    The Latest: Quake rescue work suspended at Italian hotel Associated Press - 30 minutes ago

    The Latest on the earthquake in central Italy (all times local): 10:45 p.m. A rescue official says Italian rescue workers have been forced to suspend their search at the site of a hotel that was badly ... … More »

  • Australia's Luxury-Car Binge Belies Its Drop in Living Standards Bloomberg - 31 minutes ago

    "A lot has been made of softer economic conditions over the first half of 2016, however the same cannot be said for the luxury car market,'' said Savanth Sebastian, an economist at CommSec. "Higher home prices are boosting wealth levels and … More »

  • Canada takes tough line with China over canola export dispute Reuters - 32 minutes ago

    OTTAWA (Reuters) - Canada notably hardened its line with China on Wednesday in a dispute over Canadian canola exports, saying bilateral relations could not improve until Beijing took action to settle the ... … More »

  • How the Dow Jones industrial average fared on Wednesday Associated Press - 41 minutes ago

    Stocks closed lower on Wednesday, led by sharp declines in health-care companies as outrage over the steep price hikes for Mylan's EpiPens escalates. On Wednesday: The Dow Jones industrial average fell ... … More »

  • Stocks end lower as health-care companies decline
    Stocks end lower as health-care companies decline Associated Press - 42 minutes ago

    Stocks closed lower on Wednesday, led by sharp declines in health-care companies as outrage over the steep price hikes for Mylan's EpiPens escalates. Trading remains quiet overall with many investors still ... … More »

  • Ex-Comverse CEO pleads guilty to fraud, a decade after fleeing U.S.
    Ex-Comverse CEO pleads guilty to fraud, a decade after fleeing U.S. Reuters - 43 minutes ago

    The former chief executive officer of Comverse Technology Inc pleaded guilty to securities fraud on Wednesday, a decade after fleeing the United States for Namibia to avoid prosecution. Jacob "Kobi" Alexander, the Woodbury, New York-based software … More »

  • Pharma shares under fire as US stocks fall AFP - 45 minutes ago

    US stocks fell Wednesday with pharmaceutical shares tumbling as controversy over the sky-high price of Mylan's EpiPen prompted rebukes from the White House and Democratic presidential candidate Hillary ... … More »

  • Williams-Sonoma meets 2Q profit forecasts Associated Press - 1 hour 8 minutes ago

    On a per-share basis, the San Francisco-based company said it had net income of 58 cents. The results matched Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment ... … More »

  • Wall St. falls as healthcare, materials stumble
    Wall St. falls as healthcare, materials stumble Reuters - 1 hour 10 minutes ago

    Wall Street retreated on Wednesday, pulled lower by weakness in the materials and healthcare sectors as investors continued to weigh the possibility of an interest rate hike in the coming months. The market is awaiting Federal Reserve Chair Janet … More »

  • Markets Right Now: US stocks close lower Associated Press - 1 hour 19 minutes ago

    The latest on developments in global financial markets (all times local): 4:00 p.m. Stocks are closing lower, led by drops in health care companies, more than erasing a modest gain from the day before. ... … More »

  • Stocks Drop as Political Risk Haunts Emerging Markets; Oil Sinks Bloomberg - 1 hour 29 minutes ago

    Developing-nation shares dropped the most in seven weeks after Turkey launched a military operation in Syria and North Korea conducted a missile test. South Africa’s rand led losses among its global peers as the nation’s finance minister refused to … More »

  • The Tiny Ski Town Defying Japan’s Scary Population Collapse Bloomberg - 1 hour 31 minutes ago

    The area’s booming economy has spurred investment in luxury hotels, restaurants, and shops--and attracted local and expat workers who’ve become full-time residents. Niseko’s population grew 2.9 percent last year to 4,952 compared with 2010 levels, … More »

  • Grain lower, livestock lower Associated Press - 1 hour 33 minutes ago

    Grain futures were lower Wednesday on the Chicago Board of Trade. Wheat for Sept. declined 3.75 cents at $4.04 a bushel; Sept. corn fell 1 cent to 3.2750 a bushel; Sept. oats was off 2.25 cents at $1.6925 ... … More »

  • Oil pipeline: The legal challenges and protests Associated Press - 1 hour 36 minutes ago

    A federal judge has heard testimony in the Standing Rock Sioux Tribe's request to temporarily block the construction of a four-state oil pipeline near their reservation, which straddles the North Dakota-South ... … More »

  • Oil slides on surprise jump in US crude stockpiles AFP - 1 hour 45 minutes ago

    Oil prices slumped Wednesday as a surprise jump in US crude stockpiles added to lingering concerns over a global supply glut. The US Department of Energy said commercial inventories of crude grew by 2.5 ... … More »

  • North Korea test-fires sub-launched missile close to Japan
    North Korea test-fires sub-launched missile close to Japan AFP News - 1 hour 48 minutes ago

    North Korea on Wednesday test-fired a submarine-launched missile 500 kilometres (around 300 miles) towards Japan, marking what weapons analysts called a clear step forward for its nuclear strike ambitions. The flight distance, which was tracked by … More »

  • U.S. crude down 3 percent after big stockpile build
    U.S. crude down 3 percent after big stockpile build Reuters - 2 hours 13 minutes ago

    The U.S. Energy Information Administration (EIA) said crude inventories rose 2.5 million barrels last week, versus analysts' forecasts for a draw of 500,000 barrels. U.S. West Texas Intermediate (WTI) futures settled down $1.33, or 2.8 percent, at … More »

  • European stocks rebound as euro slips; oil tumbles
    European stocks rebound as euro slips; oil tumbles Reuters - 2 hours 20 minutes ago

    European stocks scored consecutive daily gains for the first time in three weeks on Wednesday, drawing support from a weak euro, but U.S. and Canadian stocks drifted down as lower metal and oil prices weighed on the materials sector. Emerging … More »

  • EU, Portugal agree on 5 billion euro recapitalisation for ailing bank CGD
    EU, Portugal agree on 5 billion euro recapitalisation for ailing bank CGD Reuters - 2 hours 24 minutes ago

    LISBON/BRUSSELS (Reuters) - The European Commission and Portugal have agreed in principle on the recapitalisation, on market terms, of ailing state-owned bank CGD, envisaging an injection of up to 2.7 billion euros (£2.3 billion) in state funds and … More »

  • Ecuador, Iran officials meet on need to stabilise oil prices Reuters - 2 hours 47 minutes ago

    QUITO (Reuters) - Ecuador's Foreign Minister Guillaume Long said on Wednesday that the South American country's authorities spoke with a visiting Iranian delegation about the need to stabilise oil prices. ... … More »

  • Syria rebels backed by Turkey tanks 'seize' IS-held town
    Syria rebels backed by Turkey tanks 'seize' IS-held town AFP News - 2 hours 48 minutes ago

    Turkish tanks and hundreds of opposition fighters thrust deep inside Syrian territory Wednesday in a lightning operation that within hours ousted Islamic State jihadists from a key Syrian border town. The air and ground offensive -- the most … More »

  • Copper Drops to Erase Year’s Gains on LME as China Imports Slide Bloomberg - 3 hours ago

    Glencore Plc, the top copper supplier, fell after reporting profit declined by two-thirds. Copper for delivery in three months declined 1.7 percent to settle at $4,632 a metric ton ($2.10 a pound) at 5:50 p.m. on the LME, capping the longest … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.1290.0000.00%
    N21.SI
    0.250.00-1.96%
    5ME.SI
    0.60+0.04+6.57%
    5TP.SI
    0.99-0.02-1.98%
    Y92.SI
    0.156+0.007+4.70%
    AFC.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.30+0.06+22.45%
    T18.SI
    0.15+0.02+15.38%
    5TI.SI
    0.225+0.025+12.50%
    Y35.SI
    0.51+0.05+12.09%
    BHU.SI
    0.162+0.017+11.72%
    QS9.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.011-0.115-91.27%
    QF6.SI
    0.23-0.17-42.50%
    AWI.SI
    0.205-0.055-21.15%
    I06.SI
    0.45-0.10-18.18%
    BFK.SI
    0.385-0.085-18.09%
    E8Z.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3541+0.0028+0.21%
    USDSGD=X
    1.5248-0.0022-0.14%
    EURSGD=X
    1.7912+0.0085+0.48%
    GBPSGD=X
    74.1220+0.013+0.02%
    SGDJPY=X
    5.7221-0.0134-0.23%
    SGDHKD=X
    2.9771+0.0013+0.04%
    SGDMYR=X
    9,783.8555-32.8486-0.33%
    SGDIDR=X
    4.9136+0.00020.00%
    SGDCNY=X
    1.0311+0.0022+0.21%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,327.30-18.80-1.40%
    GCZ16.CMX
    18.50-0.42-2.20%
    SIU16.CMX
    95.34-8.55-8.23%
    ^XAU
    2.08-0.03-1.63%
    HGU16.CMX
    46.80-1.30-2.70%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.140.00
    ^FVX
    1.56+0.01
    ^TNX
    2.24+0.01
    ^TYX