The yuan strengthened against the U.S dollar in the early Asian session on Thursday. Against the greenback, the yuan rose to an 8-day high of 6.2250, up from yesterday’s closing quote of 6.2292. The next possible upside target of the yuan is seen at 6.21. The People Bank of China set today’s central parity rate
The dollar extended its rally versus the euro on Friday amid renewed expectations that stimulus from the European Central Bank is being planned for June. The ECB refrained from easing at this week’s policy meeting, but deflationary risks may compel them to act soon. “The governing council is comfortable with acting next time,” European Central
The dollar strengthened on Thursday as Europe’s top central banker dented the euro with talk of stimulus in June. European Central Bank President Mario Draghi said that policy makers were open to unprecedented easing measures if deflationary pressures persist. Earlier in the day, the ECB decided to maintain the main refinancing rate unchanged at a
The yen rose against other major currencies in Asian deals on Wednesday as regional stocks fell amid tensions in Ukraine. Japan’s Nikkei tumbled 2.30 percent or 332.39 points to 14,125.12. In most of eastern and southern Ukraine, violence flared at dusk in the eastern port of Mariupol, where a spokesman for pro-Moscow militants told Russia’s
The dollar recovered early losses against the yen and was steady versus European rivals on Monday amid another encouraging reading on the U.S. economy. Activity in the U.S. service sector expanded at a faster than expected in rate in the month of April, according to a report released by the Institute for Supply Management on
