Americas
Friday, 24 May 2013 03:40
16
NEW YORK: The dollar was on track for its biggest daily drop in more than five weeks against the yen on Thursday after a sharp slide in Japanese stocks and weak Chinese factory activity data prompted a rush for the safe-haven Japanese currency.The yen also rallied versus the euro and other currencies, further buoyed by a jump in 10-year Japanese government bonds yields, to 1.000 percent, the highest in a year.China's factory activity shrank for the first time in seven months in May, a survey showed, deepening fears that China's economic recovery has stalled and a sharper cooldown may be imminent.Concerns that US monetary stimulus could be scaled back, sparked by Federal Reserve Chairman Ben Bernanke's testimony on Wednesday, also weighed on markets and drove Japan's Nikkei share index down 7.3 percent on Thursday, its biggest one-day drop since a slide two years ago in the wake of the tsunami."The ...
TORONTO: The Canadian dollar won some respite from its recent decline against its US counterpart on Thursday, a day after it sank to an almost 12-month low, as the market brushed off weak Chinese economic data and the possibility of a reduction in US stimulus.While major North American equity markets closed lower, most of them finished the day off their session lows as investors saw the early fall from record highs as an opportunity to ...
NEW YORK: The yen advanced sharply against the dollar and the euro on Thursday after a slide in stocks sparked by a drop in Chinese factory activity prompted a rush for the safe-haven Japanese currency.China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary manufacturing survey showed, entrenching fears that its economic recovery has stalled and that a sharper cooldown may be imminent. Concerns US monetary ...
NEW YORK: The dollar rose to a 4-1/2-year high against the yen and a near three-year peak against a currency basket on Wednesday after Federal Reserve Chairman Ben Bernanke stoked speculation the US central bank could slow its asset buying in coming months.Bernanke, in testimony to Congress, said the Fed's massive bond-buying program would remain in place for now. But he added if economic improvement continued, the Fed could "in the next few meetings take ...
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