Malaysian central bank grips ringgit tightly as troubles mount SINGAPORE, July 30- Protecting the ringgit from political fallout out may end up costing Malaysia more than any bailout for the debt-ridden 1 MDB state fund, given the rate at which the central bank has been using its reserves in recent weeks. On Tuesday, Prime Minister Najib Razak sacked his deputy, who had called on him to give Malaysians a better explanation of...
| By: Vidya Ranganathan
FOREX-Dollar at week's peak after Fed tiptoes towards rate move LONDON, July 30- The dollar rose to its highest level this week on Thursday after the U.S. In early trade in Europe, the euro was down more than a cent against the dollar compared with levels seen before the Fed made its monthly policy statement on Wednesday, falling back to around $1.0950, its lowest since last Friday. "The fact they weren't worried about anything else...
| By: Patrick Graham
China QFII quota rises to $76.6 bln in July - FX regulator BEIJING, July 30- The outstanding amount of China's dollar-denominated Qualified Foreign Institutional Investor program rose to $76.6 billion by July 29, from $75.54 billion at the end of June, the foreign exchange regulator said on Thursday.
FOREX-Dollar firm on Fed expectations ahead of U.S. GDP report TOKYO, July 30- The dollar held steady in cautious trade on Thursday, ahead of U.S. gross domestic product data that could reinforce or dent expectations that the Federal Reserve is on track to raise interest rates as early as September. The GDP report "may boost the appeal of the greenback and spark a further decline in EUR/USD as signs of a stronger recovery fuels...
| By: Lisa Twaronite
Emerging currencies in the firing line amid Fed Emerging market currencies were eyed by investors on Wednesday as weak oil prices, China's market pain and after the Federal Reserve left its interest rates unchanged.
| By: Jenny Cosgrave