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NY Mellon Says Greek Exit May Weaken Asia Currencies

BEIJING--Asian countries should be on guard against currency depreciation in the event of a Greek exit from the euro, Samarjit Shankar, managing director of Foreign Exchange Research at Bank of New York Mellon Corp. (BK) siad Thursday. Speaking to reporters in Beijing, Mr. Shankar predicted that there will be no quick resolution to the euro-zone debt crisis, no matter who prevails in Greece's elections this weekend. China's yuan is likely to remain relatively steady against the dollar for the remainder of the year as the government attempts to support growth. The yuan is likely to trade in a range between 6.2 and 6.4 to the dollar for the remainder of the year, he said. Meanwhile, the U.S. dollar is likely to remain relatively strong, as its safe-haven status will ensure steady capital inflows, and another round of quantitative easing by the Federal Reserve is unlikely given exceptionally low yields on U.S. Treasurys, he said. Write to Grace Zhu at [email protected]

Stock News for Bank of N Y (BK)
DateTimeHeadline
01/17/201713:35:00BNY Mellon Named as Sponsored Depositary Bank by WH Group Limited
01/17/201713:12:00BNY Mellon Named as Sponsored Depositary Bank by WH Group Limited
01/12/201714:42:00BNY Mellon Names Jeff McCarthy CEO, Exchange Traded Funds
01/10/201707:12:00BNY Mellon Selected by Covestro AG for its Sponsored Depositary...
01/05/201707:00:00Braskem SA Appoints BNY Mellon as Depositary Bank
12/20/201615:30:00BNY Mellon's Pershing Advisor Solutions CEO Mark Tibergien Honored...
12/20/201607:30:00BNY Mellon to Host Fourth Quarter 2016 Earnings Conference Call...
12/16/201604:42:00BNY Mellon Directly Connects to Monte Titoli on T2S
12/15/201607:30:00BNY Mellon Increases Prime Rate to 3.75 Percent
12/14/201616:50:27Statement of Changes in Beneficial Ownership (4)
12/14/201603:02:00Wells Fargo Sanctioned In Surprise Rebuke -- WSJ
12/13/201620:04:00U.S. Regulators Sanction Wells Fargo, Declaring 'Living Will...
12/13/201618:20:00U.S. Regulators Sanction Wells Fargo, Declaring 'Living Will...
12/13/201618:05:00U.S. Regulators Sanction Wells Fargo, Declaring 'Living Will...
12/13/201617:02:00U.S. Regulators Sanction Wells Fargo, Declaring 'Living Will...
12/13/201616:50:04Statement of Changes in Beneficial Ownership (4)
12/13/201610:00:00Profound Changes in the Wealth Advisory Business Require Firms...
12/13/201605:57:00BNY Mellon to Service Local Pensions Partnership's £5 billion...
12/12/201617:59:21Initial Statement of Beneficial Ownership (3)
12/12/201617:58:53Initial Statement of Beneficial Ownership (3)

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