Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Friday, January 19, 2018 07:26:38 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Dollar dumped on worries China may bail on US bonds

By
13th-Jan-2018       
Comments
Share your thought
Post a comment »
Read all () »

AFP, London :
The dollar slumped on Wednesday following a report that China may slow or halt its purchases of US government bonds, with Wall Street stocks also opening lower.
Bloomberg News reported that officials reviewing China's foreign-exchange holdings have recommended slowing or halting purchases of US Treasuries, citing people familiar with the matter. The dollar tumbled against the euro, which shot up above $1.20, and against the yen.
"If the reports turn out to be true and China no longer sees Treasuries as an attractive option, the repercussions could be significant as the country is one of the biggest holders of US debt," said Craig Erlam, senior market analyst at currency trading firm OANDA.
Fewer Chinese purchases of US bonds would likely see interest rates paid to attract buyers climb higher, and thus the US Federal Reserve would have less need to hike rights.
"The tightening effect of such measures would likely have an impact on how many times the Federal Reserve raises interest rates this year, which is why we've seen a corresponding drop in the dollar," said Erlam.
A senior US official downplayed the impact of possible scaledown of Chinese purchases of Treasuries.
"The US treasury market is a deeply robust market within the world (and) with our economy strengthening it will remain a deeply robust market," US Under Secretary of the Treasury David Malpass said during a visit to Brussels.
Wall Street stocks, after closing at record highs on Tuesday, were on the back foot in Wednesday trading.
The Dow was down 0.2 percent in late morning trading.
Meanwhile in Europe, London's benchmark FTSE 100 index hit a record intra-day high of 7,756.11 points. It closed the day up 0.2 percent at 7,748.51.
In the eurozone, Frankfurt's DAX 30 dropped 0.8 percent and the Paris CAC 40 shed 0.4 percent.

Tariff
Add Rate

News Archive

Inside The New Nation

International »

IS poses threat to Iraq one month after `liberation`


AFP, Mosul :Barely a month after Baghdad declared victory over the Islamic State group, the jihadists could still recapture areas of Iraq, especially near the border with Syria, experts and officials say.Ali al-Bayati, a commander of the Hashed al-Shaabi paramilitary units which fought alongside Iraqi security forces in a gruelling ...

Editorial »

A city cannot be held hostage by terrorism for years


THE Tuesday's fierce clash between the followers of two rival ruling party leaders in Narayanganj has again exposed the nasty side of power politics. Both the leaders were so much arrogant that they even did not bother to lock in street fight defying the directives of the party high command. ...

Sports »

Sharapova cranks up title charge on day four


AFP, Melbourne :Maria Sharapova laid down her Australian Open title credentials on a scorching hot Melbourne day Thursday, with Caroline Garcia and fellow veteran Agnieszka Radwanksa joining her in the third round.With the temperatures heading towards an energy-sapping 39 Celsius (102 Fahrenheit) and ice-towels in use, the Russian drawcard worked ...

Entertainment »

Shilpa Shinde`s throwback picture is unmissable


Popular telly actress Shilpa Shinde, who shot to fame with her role of 'Angoori Bhabhi' in &TV's Bhabhiji Ghar Par Hain emerged as the winner of Bigg Boss 11, all thanks to her immense pool of fans who love and support her. The actress was one of the strongest contenders ...

City »

BNP Chairperson Begum Khaleda Zia appeared before the special court on Alia Madrasha premises in the city's Bakshibazar on Thursday on two corruption cases filed by Anti-Corruption Commission.


Business & Economy »

Filippo Lanzi, new head of Asia Pacific GSK Consumer Healthcare


Business Desk :GlaxoSmithKline (GSK) Consumer Healthcare has announced the appointment of Filippo Lanzi as its regional head of the Asia Pacific, encompassing 23 territories. Lanzi is also the newest member of the Consumer Healthcare Strategic Leadership Team and the GSK Singapore Country Board.Lanzi joined GSK as part of a joint ...

International »

US govt shutdown looms amid harsh immigration exchange


Reuters, Washington :Partisan finger-pointing over immigration policy on Tuesday left the U.S. Congress and the White House stumbling closer to a possible federal government shutdown by the end of the week, although Wall Street held out hopes for a deal to prevent that.Republicans who control Congress are expected to try ...

Editorial »

Be careful about corruption over the big projects


Finance Minister AMA Muhith has said the China Harbour Engineering Company Limited that got the contract for expansion of Dhaka-Sylhet Highway had bribed government officials. So, the government "blacklisted" the firm and decided to fund the expansion work of the 226km Dhaka-Sylhet road to a four-lane highway on its own, ...

Sports »

Anett Kontaveit of Estonia makes a forehand return to Germany's Mona Barthel during their second round match at the Australian Open tennis championships in Melbourne, Australia on Wednesday.


Entertainment »

Valentine’s Day telefilm Mithojeebi


Sheikh Arif Bulbon :On the occasion of coming Valentine’s Day, Mir Sabbir and Moutushi Biswas acted together under Azizul Hakim’s direction in a special telefilm titled Mithojeebi scripted by Zinat Hakim to telecast on Channel i. Both Sabbir and Moutushi acted under Azizul Hakim for the first time. Zinat Hakim ...

City »

BNP Chairperson Begum Khaleda Zia appeared before the special court on Bakshi Bazar Alia Madrasha premises in the city yesterday on two corruption cases filed by Anti-Corruption Commission.


Editorial »

Lies about economic progress are coming out


The economy has come under pressure due to the banking sector crisis, inflation and soaring imports amid inadequate export earnings and insufficient remittance inflows, the Centre for Policy Dialogue (CPD) said recently. The banking sector is suffering from cronyism, the think-tank said, adding that various irregularities and embezzlement of public ...

Sports »

Petra Kvitova of the Czech Republic makes a forehand return to Germany's Andrea Petkovic during their first round match at the Australian Open tennis championships in Melbourne, Australia on Tuesday.


Entertainment »

Much-awaited intense and gripping trailer of Breathe


After tantalizing the senses of audiences with the edge of the seat teaser, Amazon Prime Video and Abundantia Entertainment have now released the much-awaited trailer of Breathe. Breathe brings to the audience R Madhavan in the OTT space for the very first time. The trailer of the digital series is ...

Entertainment »

Richi works in a serial after returning country


Sheikh Arif Bulbon :Popular TV actress Richi Solaiman returned to Bangladesh on December 8. This time she came here to pass time only with her family and close persons of media. Despite having earlier schedule to come to country Richi did not agree to work for this reason. After returning ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news