Too late for new Brexit deal, France's Macron tells Johnson
French President Emmanuel Macron told Prime Minister Boris Johnson on Thursday that there was not enough time to wholly rewrite Britain's Brexit divorce deal before an Oct. 31 deadline.
Devika Syamnath
EM ASIA FX-S.Korean won leads gains by Asian currencies vs defensive dollar
* Asia FX up vs dollar ahead of Fed minutes, Jackson Hole meet * S.Korean won rises on possible easing in Japan export curbs (Adds text, updates prices) By Devika Syamnath Aug 21 The won rose sharply on Wednesday on signs of easing in Japan's curbs on exports to South Korea, while other Asian currencies strengthened against a defensive dollar ahead of a symposium of global central bankers. Comments from U.S. Federal Reserve Chair Jerome Powell on Friday at Jackson Hole, Wyoming, will be in focus as markets look for hints on further policy easing from the head of the pivotal central bank. Also watched by investors will be minutes from the Fed's July meeting, at which it cut U.S. rates by 25 basis points, which are due later on Wednesday. The dollar slipped from a three-week peak because of a reversal in U.S. yields, as they headed south again. The Taiwan dollar and Malaysian ringgit were 0.2% higher, while India's rupee climbed 0.3%. The yuan inched up 0.1%. China's central bank fixed the currency's mid-point "at a market-friendly 7.0433 vs the previous close of 7.0610 so the bias has been to sell USD this morning," Stephen Innes, managing partner of VM Markets, said in a note. The recent weakening of China's currency has become an issue in the prolonged trade war between Beijing and Washington. In his latest comments on the dispute, U.S. President Donald Trump said on Tuesday a confrontation with China was necessary even if it caused short-term harm to the U.S. economy. Innes said "it's beginning to feel more like your typical August as the markets don't seem to have much of an axe to grind one way or the other today other than pre-risk event positioning squaring". Korea's won gained the most among peers, up as much as 0.8% at one point in the session, on signs of easing in the country's trade dispute with Japan stemming from tensions from their wartime past. Japan on Tuesday approved shipments of a high-tech material to South Korea for the second time since imposing export curbs last month, two sources said. The won has been the worst performing Asian currency against the dollar this year. The following table shows rates for Asian currencies against the dollar at 0456 GMT. CURRENCIES VS U.S. DOLLAR Currency Latest bid Previous day Pct Move Japan yen 106.460 106.22 -0.23 Sing dlr 1.384 1.3847 +0.05 Taiwan dlr 31.353 31.405 +0.17 Korean won 1202.000 1208.3 +0.52 Baht 30.760 30.78 +0.07 Peso 52.270 52.31 +0.08 Rupiah 14240.000 14255 +0.11 Rupee 71.520 71.70 +0.26 Ringgit 4.171 4.181 +0.24 Yuan 7.054 7.0610 +0.10 Change so far in 2019 Currency Latest bid End 2018 Pct Move Japan yen 106.460 109.56 +2.91 Sing dlr 1.384 1.3627 -1.54 Taiwan dlr 31.353 30.733 -1.98 Korean won 1202.000 1115.70 -7.18 Baht 30.760 32.55 +5.82 Peso 52.270 52.47 +0.38 Rupiah 14240.000 14375 +0.95 Rupee 71.520 69.77 -2.45 Ringgit 4.171 4.1300 -0.98 Yuan 7.054 6.8730 -2.56 (Reporting by Devika Syamnath in Bengaluru; Editing by Richard Borsuk)
EM ASIA FX-Most currencies slip, under pressure by stronger dollar
* China's yuan leads losses among regional units * Korean won firms on Japan's export approval * Indonesia c.bank to hold key rate on Thursday - poll (Adds text, updates prices) By Devika Syamnath Aug 20 Most emerging Asian currencies declined on Tuesday, as the dollar firmed on hopes for fresh stimulus from global policymakers while the yuan, a bellwether for regional peers, weakened. Investors widely expect the U.S. Federal Reserve to cut rates again in September. The market's focus will be Fed Chair Jerome Powell's remarks at the annual symposium of global central bankers starting on Friday at Jackson Hole, Wyoming. The Chinese yuan declined as much as 0.3%, touching a one-week low, before paring some of the loss. China's launch on Tuesday of a new lending reference rate, which saw a small initial cut, did not have a substantial impact on the yuan. But the change pointed to more easing ahead to seek to lower corporate borrowing costs. OCBC said in a note that for Asian currencies, recovery of risk sentiment was offset by a weaker yuan in the wake of regulatory changes at China's central bank. "With these divergent pressures, expect the Asian currencies to potentially drift in different directions for now, although the overall bias beyond the immediate horizon may still be for a higher USD-Asia," OCBC said. At 0558 GMT, the Indian rupee and Indonesian rupiah were both down 0.2%, making them among top decliners in the region. On Monday, India said it would exempt shadow lenders from debenture reserve requirements in an effort to increase the availability of money for lending. A Reuters poll on Tuesday showed that 17 of 19 economists expect Indonesia's central bank to keep its key rate on hold on Thursday. KOREAN WON ON FIRMER FOOTING South Korea's won bucked the regional trend, gaining 0.2% on signs of some easing in Seoul's spat with Japan. Japan has approved shipments of a high-tech material to South Korea for the second time since imposing export curbs last month, two sources said. This came ahead of talks by government officials this week to resolve a dispute stemming from their wartime past. The won weakened nearly 5% since July. The following table shows rates for Asian currencies against the dollar at 0558 GMT. CURRENCIES VS U.S. DOLLAR Currency Latest bid Previous day Pct Move Japan yen 106.530 106.62 +0.08 Sing dlr 1.385 1.3864 +0.09 Taiwan dlr 31.400 31.352 -0.15 Korean won 1208.100 1211 +0.24 Baht 30.810 30.82 +0.03 Peso 52.320 52.39 +0.13 Rupiah 14260.000 14230 -0.21 Rupee 71.580 71.43 -0.21 Ringgit 4.180 4.175 -0.12 Yuan 7.067 7.0509 -0.22 Change so far in 2019 Currency Latest bid End 2018 Pct Move Japan yen 106.530 109.56 +2.84 Sing dlr 1.385 1.3627 -1.62 Taiwan dlr 31.400 30.733 -2.12 Korean won 1208.100 1115.70 -7.65 Baht 30.810 32.55 +5.65 Peso 52.320 52.47 +0.29 Rupiah 14260.000 14375 +0.81 Rupee 71.580 69.77 -2.53 Ringgit 4.180 4.1300 -1.20 Yuan 7.067 6.8730 -2.74 (Reporting by Devika Syamnath in Bengaluru; Editing by Richard Borsuk)
UPDATE 2-Australia's Lendlease progresses E&S unit sale, positive on outlook
* Shares rise on sale progress, positive outlook (Recasts, adds analyst and CEO quotes, share performance)
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