Categorized | Singapore Trading News

DBS says guarding against US debt problems

The chief executive of Southeast Asia’s biggest bank, DBS (DBSM.SI), said on Thursday that the biggest problem from the deadlock on the U.S. debt position could be the liquidity of the U.S. dollar.

Piyush Gupta told reporters the bank has already positioned itself to guard against a U.S. ratings cut and possible default. It was also managing European positions to be at the short-end of the liquidity curve, he said.

He said 30 billion yuan worth of yuan loans were in the pipleine although property cooling measures in Hong Kong were “clearly biting” volumes.

Adapted from i3investor.com & Thomson Reuters.

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Symbol Bid Ask Spread
EURUSD 1.17530 1.17550 2
GBPUSD 1.31860 1.31890 3
USDCAD 1.26550 1.26580 3
USDJPY 113.630 113.650 2
USDCHF 0.98530 0.98560 3
AUDUSD 0.77810 0.77840 3
NZDUSD 0.69200 0.69250 5
EURGBP 0.89110 0.89140 3
EURCHF 1.15810 1.15840 3
EURJPY 133.550 133.580 3
AUDJPY 88.410 88.460 5
GBPJPY 149.830 149.890 6
XAUUSD 1280.07 1280.47 40
XAGUSD 17.063 17.113 5