Taiwan dollar forwards declined for a fourth day, the longest losing streak in more than three months, on speculation the island’s central bank will favor a weaker currency as the Chinese yuan declines.
BlackRock Inc. says poor liquidity in electronic currency trading is a hurdle in Asia, while voice transactions are essential for Mitsubishi Corp., hampering the use of such platforms in a region trailing the global average.
Treasuries rose and the Standard & Poor’s 500 Index retreated after touching an intraday record yesterday on signs U.S. consumer confidence is flagging. The yen gained amid concern a weaker Chinese yuan will hurt growth while natural gas led commodities lower.
Bill Gross overhauled the Pimco Unconstrained Bond Fund after replacing Chris Dialynas as manager, taking control of Pacific Investment Management Co.’s best-selling alternative to traditional fixed income.