Short bets on Asian FX rise as Omicron uncertainty grips markets: Reuters poll

Investors became increasingly bearish on most Asian currencies as the detection of a possibly vaccine-resistant coronavirus variant and subsequent mobility restrictions by several countries soured risk appetite, a Reuters poll showed on Thursday. Bullish bets on the Indonesian rupiah and Malaysian ringgit reversed, while short positions on the Thai baht, Singaporean dollar and South Korean […]

NZ dollar drops below 70 level

The New Zealand dollar remains under pressure in what has been a rough week for the currency. NZD/USD has fallen 1.45% this week and is currently trading at 0.7015, down 0.13% on the day. In the Asian session, the New Zealand dollar slipped below the 0.70 line, a psychologically significant level. There was some positive […]

China’s Regional Hinterland Suffers as Beijing Reins In Debt

The economic gap between China’s less-developed western region and the wealthier eastern parts of the nation widened in the third quarter as Beijing’s crackdown on property and local government debt weighed on growth. Fixed-asset investment in Guizhou, Qinghai, Shaanxi, and Ningxia contracted in the first nine months of this year, contributing to weaker growth in […]

The US dollar rises on higher US yields

The US dollar marched higher overnight, benefiting from a rise in US yields after a less-dovish Powell and a small amount of risk aversion buyers. The implications of a Fed taper have been making their way through currency markets for a while now, even as equity markets stayed in their own dreamland space. The dollar […]

NZD steadies after Friday plunge

The New Zealand dollar continues to be racked by strong volatility, as investors anxiously monitor the Evergrande crisis. The Chinese property giant failed to make a USD 85.0 million coupon payment last week, and another USD 47.5 million payment is due this week. The markets shrugged off the missed payment, and NZD/USD jumped 0.96% on […]

Dollar drifting as week kicks off

Currency markets limped to the close in New York on Friday, with a rise in US yields reversing the US dollar’s early losses and leading most majors to an almost unchanged close. The dollar index rose 0.21% to 92.28, easing modestly to 92.24 in directionless Asian trading with the index locked in a 92.00 to […]