Currency Signs

Yen rises against pound and Australian dollar on short covering

The yen rallied against key currencies yesterday as investors started to unwind positions that had been built on the Japanese unit's low-yielding status.

Other Asian currencies rose, lifted by a rebound in the yen and a rally in regional equity markets.

Thursday, 25 January, 2007, 12:00am


Lehman Brothers' strategists say the main beneficiaries of US dollar weakness in the immediate future are the currencies of 'small Asia', in particular the Thai baht.

The US dollar is likely to resume its decline in coming weeks, continuing a trend that began three years ago, but has recently been interrupted in a multi-month reversal.

15 May 2005 - 12:00am

Asia's cash hoarders show crisis mindset

SEVEN YEARS OF lean and seven years of fat, says a line from the Good Book. Seven years ago Asian central banks were just beginning to fight a speculative onset against their currencies, which had generally been rigged at artificially strong levels.

29 Oct 2003 - 12:00am

Christmas break and weak yen blamed as torpid trade stunts volume

Hong Kong blue chips yesterday finished just 21.15 points higher in one of the slowest trading days this year, with the blame divided between Santa Claus and a weak Japanese yen.

The Hang Seng Index rose 0.18 per cent to 11,486.93 points, a pale imitation of Monday's bolder rebounds on Wall Street. Turnover was HK$5 billion, the 11th quietest trading day this year.

19 Dec 2001 - 12:00am

Should domestic helpers face further pay cut?

It is time for an adjustment of the minimum wage for foreign domestic helpers. It should be lowered by 10 to 20 per cent.

27 Nov 2001 - 12:00am

Asian units quiet before next week's data release

Asian regional currencies were little changed in late trade yesterday as most markets were closed for the Easter holiday.

Financial markets in Australia, New Zealand, Hong Kong, Singapore, Indonesia and the Philippines were shut.

Regional markets are likely to focus on a slew of key economic indicators next week.

22 Apr 2000 - 12:00am

Asia's biggest stock rallies ring hollow

Time for a quick review of Asian stock market performance now that your correspondent's database shows share prices overall within a smidgen of having doubled in US dollar terms since hitting a bottom in September last year.

15 Jun 1999 - 12:00am

Nothing new on Japan withdrawal symptoms

The recent survey of international lending by the Bank for International Settlements (BIS) once again highlights a reported big pull-out from Asia by Japanese banks.

5 Jun 1999 - 12:00am

Laos finding isolation far from splendid

Old Indochina hands like to talk of the pre-revolutionary days of 1960s Laos when the economy was so tiny, the currency was balanced every Friday afternoon by a World Bank official with a briefcase full of dollars.

If only it were so simple now, they say.

12 May 1999 - 12:00am

Small change

TOKYO (February 24): THE Japanese one yen coin is about to make a comeback - and just about everyone is outraged about it.

The little aluminium coin, which costs more to mint than it is actually worth, has been on the retreat for years with most shops rounding off prices.

21 Feb 1999 - 12:00am

Euro hype sidelines US dollar

THE world's attention has been focused on Europe where, after much fanfare and years of preparation, the euro was launched on New Year's Day - although it does not begin trading until tomorrow.

In the past week, trading volumes in US dollar/marks were thin as investors sat on the sidelines ahead of the euro launch.

3 Jan 1999 - 12:00am

Yen rallies as Tokyo aims to review sales tax

The US dollar fell sharply against the yen yesterday after Japan's ruling Liberal Democratic Party (LDP) said it had struck an alliance with the opposition Liberal Party, raising hopes of more concerted moves to kick-start the country's ailing economy.

The parties said they had agreed to review the sales-tax rate, a step long sought after by the Liberal Party.

20 Nov 1998 - 12:00am

A noble view but much too centred on Japan

Noble Laureate Merton Miller, who has some worthwhile things to say but who also has an unusually big mouth in telling Asian people how to run their affairs, has made the classic Japan error again.

17 Nov 1998 - 12:00am

Rate cut spurs broad advance

HONG KONG capped an already strong week with its biggest single-day gain in eight months as a fresh cut in US interest rates cheered investors.

18 Oct 1998 - 12:00am

Strong dollar base underpins Johnson Electric

Johnson Electric Recommendation: Buy Brokerage: ABN Amro JOHNSON Electric designs and makes micro-motors used in cars, office automation, leisure products, tools and toys.

It has benefited from a strong US dollar because it has a wide dollar revenue base while sourcing in Asia, where currencies have plummeted.

18 Oct 1998 - 12:00am