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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
09/26/201616:37:24Current Report Filing (8-k)
09/26/201616:30:00BNY Mellon President Karen B. Peetz to retire December 31, 2016
09/20/201610:52:00Department of Labor Conflict of Interest Rule Expected to Boost...
09/20/201610:00:00Albridge, an Affiliate of BNY Mellon's Pershing, Announces the...
09/15/201615:30:00Funded Status of U.S. Corporate Pensions Remains Flat in August...
09/15/201607:48:00BNY Mellon Appoints Niamh De Niese Head of EMEA Innovation Centre
09/15/201607:48:00BNY Mellon Appoints Niamh De Niese Head of EMEA Innovation Centre
09/13/201611:11:00BNY Mellon Appoints David Cruikshank as Chairman of Asia Pacific
09/13/201606:48:00BNY Mellon Appointed by Israel's Clal Insurance to Service Over...
09/12/201611:04:00BNY Mellon's Pershing Adds Mesirow Financial to its Retirement...
08/29/201610:20:00BNY Mellon's Pershing Offers New Mutual Fund and ETF Solutions...
08/16/201617:35:25Statement of Changes in Beneficial Ownership (4)
08/16/201617:34:30Statement of Changes in Beneficial Ownership (4)
08/16/201617:34:01Statement of Changes in Beneficial Ownership (4)
08/16/201617:33:10Statement of Changes in Beneficial Ownership (4)
08/16/201616:45:26Current Report Filing (8-k)
08/12/201608:50:00Helena Morrissey Steps Down as Newton CEO
08/10/201622:00:00Fifth Third Fired Counsel Over Relationship With Fannie CEO
08/10/201616:03:37Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/10/201616:03:37Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)

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