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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
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...
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06/30/201419:42:45Peltz's Trian Plants Its Flag in BNY Mellon - 3nd Update
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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...
06/26/201416:50:34Trustees Ask for Extension on Citigroup's $1.13 Billion Mortgage...
06/24/201417:53:25BNY Mellon Realignment Includes New Markets Group
05/27/201417:40:04Bank of New York Mellon to Log After-Tax Charge
05/27/201417:27:27Bank of New York Mellon to Log $100 Million After-Tax Charge
05/26/201423:50:56BNY Mellon Sells 49% Stake in China JV
05/26/201423:15:11BNY Mellon Sells 49% Stake in China Joint Venture
05/11/201415:44:23J.P. Morgan Is Reviewing U.S. Correspondent-Bank Relationships
04/23/201415:01:24BNY Mellon Considers Sale of Corporate Trust Arm -Bloomberg
04/22/201414:29:16BNY Mellon Plans to Sell Headquarters; Swings to Profit -- 2nd...
04/22/201410:06:49Bank of New York Mellon Swings to Profit -- Update

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