Americas
Friday, 10 May 2013 19:41
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NEW YORK: The yen tumbled to its lowest in more than four years against the dollar on Friday on data showing Japanese investors were buying more foreign assets, while the greenback rallied broadly as US data sparked talk the Federal Reserve may scale back monetary easing.With the Japanese currency breaching the 100-level, analysts expect the yen to fall further. Some have called for the dollar to rise to 105 yen this summer and 110 yen by the end of the year.Exacerbating the yen's slide was the market's broad buying of the dollar on speculation the Fed will start winding down its asset purchases, or quantitative easing, after two upbeat labor market indicators - last Friday's robust non-farm payrolls report and Thursday's weekly jobless claims."The break of the 100-yen level unleashed the animal spirits," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman in New York.Overnight, data showed ...
TORONTO: The Canadian dollar was marginally weaker against its US counterpart on Monday as the US dollar held firm following Friday's better-than-forecast US employment data, though volumes were thin due to holidays in Britain and Japan.The Canadian currency weakened slightly following the release of Ivey Purchasing Managers Index data that showed the pace of business purchasing slowed more severely than expected in April.Earlier, the currency had briefly strengthened after the release of Canadian building permits ...
NEW YORK: The euro moved higher against the dollar for the fourth straight session Wednesday ahead of the policy meeting of the European Central Bank, widely expected to result in an interest rate cut.Poor data on the manufacturing sector and job creation in the United States, coupled with a tepid view of the economy from the Federal Reserve, also put downward pressure on the greenback.At 2100 GMT the euro was at $1.3180, compared to $1.3165 ...
TORONTO: The Canadian dollar hit its strongest level in more than a week against its US counterpart on Thursday after US data showed a fall in new jobless benefit claims, briefly tempering broader fears about tepid US economic growth.The data fueled investor appetite for riskier assets including stocks and helped support the prices of some commodities. While the Canadian currency climbed in early trade, activity fell off when the data bounce faded."It's very, very light ...
NEW YORK: The dollar dropped against the euro and yen on Thursday as a recent slew of mostly soft data raised concerns about the pace of economic recovery in the United States, although many analysts contend the dollar remains appealing. Orders for durable goods marked their biggest drop in seven months in March, and, despite a fall in the latest weekly jobless claims, the US labor market is still sluggish and retail sales have been ...
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