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Foreign exchange market

Foreign exchange market
The global foreign exchange (forex) market has ballooned in recent decades as more and more economies liberalise their capital accounts.
The offshore yuan was at 7.048 per US dollar early Monday afternoon. Photo: dpa
Yuan

China’s currency comeback: yuan seen breaking key dollar level in 2026

Analysts bet US Federal Reserve rate cuts and thawing trade tensions will drive China’s yuan past the 7.0 psychological barrier.

Yuan

China sets strongest yuan fix in over a year as Fed-cut bets rise

Banking & finance

Yuan’s long-term hedge costs equalise for first time since 2011

Banking & finance

China’s US Treasury holdings edge up as long-term sell-off continues

The slight uptick in August and September comes as concerns mount over US debt and the White House tests the Federal Reserve’s independence.

Yuan banknote on Chinese flags and US dollar banknote on US flags. Photo: Getty Images/iStockphoto
Japan

Japanese yen weakens to 9‑month low, hits 155 to US dollar amid uncertainties

Stocks and bond market slump as investors fret over expansionary fiscal plans, fading US rate-cut bets, and a China-Japan diplomatic row.

Hong Kong Monetary Authority (HKMA)

Hong Kong’s Exchange Fund gains record US$35 billion in first 9 months

The nine-month return surpasses last year’s record of HK$239.1 billion and exceeds the full-year high of HK$264 billion reached in 2017.

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Banking & finance

Opinion | As markets grow more fragile, matter of time before the bubble bursts

The news and stories that move markets could well be a leading indicator of when markets fail.

The floor of the New York Stock Exchange on September 10. Photo: AP
Yuan

As China holds the line in ‘trade war 2.0’, its yuan follows suit

With minimal depreciation and more frequent use overseas, the yuan has shown greater resilience in this round of the US trade conflict.

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Hong Kong economy

Chinese vice-premier vows continued support for Hong Kong’s financial hub role

Vice-Premier He Lifeng expresses confidence in city’s prosperity while Chief Executive John Lee promises global investors stability.

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Wealth management

Hong Kong entrepreneur Adrian Cheng backs multi-asset broker CBCX

The investment aligns with Cheng’s growing interest in virtual assets.

Adrian Cheng is investing in CBCX, a multi-asset broker headquartered in London. Photo: Handout
US-China trade war

China eyes currency swap with Japan and South Korea amid trade tensions: source

Beijing seeks to strengthen regional financial ties and boost yuan use as US trade pressures weigh on East Asian economies.

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Pan Gongsheng, governor of the People’s Bank of China, with his counterparts Kazuo Ueda (Japan) Rhee Chang-yong (South Korea) on the sidelines of the IMG-World annual meetings last week in Washington. Photo: EPA
South Korea

South Korea, US edge closer to US$350 billion trade deal breakthrough

Top Seoul officials have flown to Washington in a sign that major progress is being made in the tough trade talks.

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United States

Opinion | In a reverse Marshall Plan, Trump is squeezing US allies for cash

While the post-war plan saw America send money and aid to revive Europe, Trump’s aim is to commandeer funds from Japan, South Korea and the EU for US aims.

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Blockchain

Stablecoins to boost US dollar demand by US$1.4 trillion: JPMorgan

Rather than accelerating de-dollarisation, stablecoins may reinforce the dollar’s role in global finance, the bank says.

Stablecoins may drum up US$1.4 trillion of extra dollar demand by 2027, according to JPMorgan. Photo: AFP
Banking & finance

China’s central bank aids gold’s record-setting run with 11-month buying streak

Price of gold breaks benchmarks as uncertainty mounts over US dollar and central banks, including China’s, add to their stockpiles.

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The price of gold continues to set records as central banks and global investors buy more of the safe-haven asset. Photo: Reuters
Banking & finance

Opinion | Why Asia-Pacific is rewriting terms of trade from dollar to yuan

It is both a pragmatic response to deepening regional trade integration and, more profoundly, a strategic drive for fiscal independence.

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Yuan

Chinese yuan’s forex market share grows to 8.5% as global position firms: survey

Beijing’s push to internationalise the yuan is reflected in its rising global use amid efforts to reduce reliance on the US dollar, which has shored up its forex dominance.

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US-China relations

Trump administration ties Argentina support to rollback of China credit line

Washington warns US$18 billion China swap endangers Argentina’s sovereignty and boosts Beijing’s sway in South America.

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Argentine President Javier Milei leaves the podium after speaking at the general debate of the UN General Assembly in New York on Thursday. Photo: Zuma
Banking & finance

As China keeps cutting US Treasury holdings, where are its investments going?

With China’s holdings at their lowest since 2009, analysts said the country’s central bank could be turning to European assets and gold.

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Banking & finance

Policy address: Hong Kong unveils measures to boost financial centre status

Lee unveils plans to encourage more mainland banks to set up in city, tax incentives for family offices, and possible use of RMB to settle certain government expenditure.

Yuan

China’s offshore yuan strengthens further against US dollar as rate cuts loom

The offshore currency breached a rate of 7.1 against the US dollar as an expected interest rate cut from the Federal Reserve approaches.

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With stronger fixing rates and expectations of an interest rate cut from the US Federal Reserve, China’s offshore yuan has been gaining ground on the US dollar in the last month. Photo: Reuters
South Korea

‘Naked imperialism’: will Trump’s US$350 billion demand bankrupt South Korea?

US demands for a US$350 billion cash investment to avoid higher trade tariffs could send South Korea’s economy ‘belly up’, experts say.

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A protester holding US dollar banknotes wears a mask of Donald Trump during a rally in July against Trump’s tariff policy near the US embassy in Seoul. Photo: AFP
Banking & finance

China extends gold-buying streak as central banks seek US dollar alternatives

A 10th consecutive monthly increase for Beijing’s gold holdings comes as global institutions turn to ‘ultimate currency’ for safe haven.

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Yuan

China’s yuan rallies with central bank backing as worries mount over US dollar

The People’s Bank of China has nudged the yuan into a stronger position as investor concerns grow over Federal Reserve independence.

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US-China trade war

China pushes development bank to help 10 Eurasian countries curb US dollar risks

President Xi Jinping raises urgency of a bank for the Shanghai Cooperation Organisation’s members, as Washington wields ‘extraterritorial power with the dollar’.

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Russian President Vladimir Putin (left), Indian Prime Minister Narendra Modi (centre) and Chinese President Xi Jinping (right) talk ahead of the Shanghai Cooperation Organization summit in Tianjin, China, on Monday. Photo: AP
Banking & finance

Hedge funds boost options bets for yuan to strengthen past 7

Hedge funds ramp up options wagers, signalling that the yuan’s rally against the US dollar still has room to run.

An employee counts yuan at a bank in Haian, China. Photo: Getty Images
Yuan

China’s yuan fixing rate hits 9-month high after dovish pivot by US Fed chair

Move by China’s central bank comes after Jerome Powell opened the door to an interest rate cut next month.

Australia

Editorial | Record Chinese yuan loan to Australian miner makes good sense

The sizeable foreign loan is a landmark in Beijing’s efforts to internationalise the yuan as an alternative to the US dollar.

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