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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
08/26/201411:15:20Argentina Revokes BNY Mellon's Operating Approval -- Update
08/26/201410:42:56Argentina Revokes BNY Mellon's Operating Approval
08/25/201423:50:39U.K. Suit Against BNY Mellon on Argentine Debt
08/14/201417:34:27Trian Fund Increases Stake in PepsiCo
08/08/201418:30:04Judge Threatens to Hold Argentina in Contempt
08/08/201418:26:34U.S. Judge Threatens to Hold Argentina in Contempt of Court
08/05/201416:10:12Trustees Seek More Time on Citigroup Settlement
08/05/201415:52:28Trustees Get Extension in Citigroup's Mortgage-Securities Settlement
07/31/201412:31:35Bank of New York Mellon Still Has Argentina Payment Money...
07/31/201411:25:06Bank of New York Mellon Still Has Argentina Payment Money
07/22/201413:03:18Judge Delays Decision on Argentine Bonds
07/22/201412:53:15U.S. Judge Delays Decision on Paying Some Holders of Argentine...
07/18/201418:49:34U.S. Hot Stocks: Hot Stocks to Watch
06/30/201419:42:45Peltz's Trian Plants Its Flag in BNY Mellon - 3nd Update
06/30/201416:42:20MARKET SNAPSHOT: U.S. Stocks End Strong Quarter On Sour Note
06/30/201412:50:48MARKET SNAPSHOT: S&P 500 On Track For 6th Straight Quarterly...
06/30/201410:40:59Trian Takes Stake in Bank of New York Mellon - Update
06/27/201418:40:05Judge: Argentina's Attempt to Pay Debtholders Is Illegal
06/27/201418:39:51U.S. Judge Says Argentina Can't Pay Some Bondholders -- Update
06/27/201418:38:57U.S. Judge Says Argentina's Attempt to Pay Holders of Restructured...

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