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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 grace.zhu@dowjones.com

Stock News for Bank of N Y (BK)
DateTimeHeadline
06/24/201608:36:00BNY Mellon Announces Results of Its 2016 Annual Stress Test
06/23/201617:00:00BNY Mellon Exceeds Fed Minimum Capital Level Under Stress Scenario
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06/14/201607:31:00BNY Mellon Awarded GSA Contract to Provide Loan Servicing and...
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06/09/201608:00:00Funded Status of U.S. Corporate Pensions Rises in May to 80.2...
06/08/201617:39:29Statement of Changes in Beneficial Ownership (4)
06/08/201611:00:00BNY Mellon's Pershing Adds AltX Hedge Fund Intelligence Platform...
06/08/201609:30:00BNY Mellon's Pershing Launches New Solutions and Resources to...
06/08/201607:30:00BNY Mellon to Speak at the 2016 Morgan Stanley Financials Conference...
06/07/201609:30:00BNY Mellon's Pershing Unveils New Technology Capabilities that...
06/07/201606:45:00Institutional investors are boosting alternatives allocations...
05/26/201612:47:00BNY Mellon Named as Depositary Bank by Grupo Supervielle S.A...
05/24/201614:15:00BNY Mellon to Speak at Upcoming Conferences
05/23/201617:01:06Statement of Changes in Beneficial Ownership (4)
05/23/201608:45:00BNY Mellon Launches Asset Strategy View(SM), Opening a 'Big Data...
05/20/201606:37:00ICBC to Issue First Renminbi Certificate of Deposit to Settle...
05/18/201611:22:00MIT Sloan CIO Symposium Announces Winner of the 2016 CIO Leadership...
05/18/201608:05:00Defined Contribution Plans Borrowing from Defined Benefit Playbook...
05/17/201617:20:31Statement of Changes in Beneficial Ownership (4)

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