The Chinese yuan continued its slide on Wednesday morning after the Chinese central bank fixed the currency at a fresh five and a half year low against the US dollar, while the British pound skidded to a new 31-year low versus the greenback on renewed concerns about the Brexit fallout.
Hong Kong has overtaken Luanda, Angola, to become the costliest city in the world for expats, according to an annual survey released by Mercer on Wednesday.
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 294 basis points on Monday to 6.5784 against the U.S. dollar, the lowest level since February 2011, according to the China Foreign Exchange Trading System.
Over the past week, discussion on whether a Fed rates hike in June is possible or not continued to heat up. At the same time, the Brexit vote also kicks in the nerves of the market. Foreign exchange traders are on the alert to the two possible black swarm events likely to happen in June. To the concern of market, the RMB continues to lose its strength as the U.S. dollar rallies.
A sharp rebound in the strength of Chinese currency the yuan has mitigated worries of further depreciation and shored up the credibility of an exchange rate system that is becoming more market-based.
Japan faces a challenge in bridging a widening divide over how to revitalize sluggish growth in leading economies at a meeting of top financial officials that began Thursday with the group bashing in the lids of sake barrels.
Markets are closely watching next week's release of U.S. non-manufacturing economic data following the significant drop in the flash Markit services PMI into slowing growth territory, setting off alarm bells the United States may be heading into a recession.
The Hong Kong dollar fell for the fifth day in a row on Wednesday morning to 7.8226, the lowest level since August 2007.
A surfer at a popular Australian beach has escaped a close encounter from a shark after it "jumped" onto his surfboard.
Asian stock markets jumped on Thursday as investors chose to take an historic hike in US interest rates as a mark of confidence in the world's largest economy, though the good cheer did not extend to oil where oversupply again pressured prices.
Australia's flagship carrier is on track for a record half year profit thanks to low fuel prices, revenue growth and its continued cost cutting program, the airline announced on Tuesday.
The U.S. dollar-denominated deposits in South Korea reduced for the first time in five months, central bank data showed Friday.
The U.S. dollar increased against most major currencies on Thursday as investors were digesting the better-than-expected jobless data from the country as well as the outcome of the just-concluded European Central Bank (ECB) meeting.
The Commonwealth Bank of Australia (CBA) will tap shareholders for a 5 billion dollar lift in capital reserves after unveiling a record 9.15 billion Australian dollar ( 6.67 billion U.S. dollar) cash profit on Wednesday.
Canada's main stock market in Toronto Tuesday eked out a marginal gain as a rally in health care shares overpowered resources sectors.
U.S. stocks posted solid gains Tuesday after falling for five consecutive sessions as Wall Street eyed U.S. Federal Reserve's two-day policy meeting.
Gold futures on the COMEX division of the New York Mercantile Exchange fell Monday as the market continued to price in expectations for a future increase in the U. S. interest rate.
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