Europe
Monday, 22 April 2013 13:56
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LONDON: The yen slipped against the dollar towards the 100 level on Monday, after the Group of 20 countries refrained from criticising Japan's reflationary policies that have significantly weakened its currency.The dollar last stood at 99.71 yen, up 0.2 percent on the day. It had earlier climbed to as high as 99.90 yen which was within striking distance of a four-year high of 99.95 set on April 11 and the 100 level, where option barriers are cited to be lined up.A break there could trigger stop-loss buying, which could take the pair up to 101.45 yen, the April 2009 high which could act as near-term resistance. Reported large option expiries at 100 will keep the currency pinned to that level.Data last Friday showed currency speculators raised their bets against the yen in the week ended April 16, while lifting positions in favour of the US dollar.The Bank of Japan governor ...
ZURICH: The Swiss franc on Friday rose against the yen that was down against a basket of currencies after Japan eased concerns its bold monetary stimulus could come under criticism at the Group of 20 meeting.Japanese Finance Minister Taro Aso said the G20 had accepted Tokyo's stance that the Bank of Japan's aggressive monetary expansion is aimed at beating deflation and not at competitively weakening the yen."We expect the yen to continue its downward trend ...
LONDON: The yen fell on Friday as macro funds resumed selling after Japan said the Group of 20 accepted its stance that its aggressive monetary expansion was aimed at beating deflation and not at competitive devaluation.The comments by Japanese Finance Minister Taro Aso eased concerns that the unprecedented monetary stimulus, which was announced earlier this month and triggered a drop in the yen to a four-year low versus the dollar last week, could be criticised ...
NEW YORK: The euro edged higher against the dollar on Thursday as more signals of a weakening US economic recovery lifted it from its biggest daily drop in 10 months in the previous session.The yen slipped against the dollar and euro as investors believed Japan was unlikely to face much criticism of its aggressive monetary easing at a meeting of the Group of 20 countries beginning on Thursday in Washington.The euro lost 1.1 percent on ...
LONDON: Sterling rose against a weaker dollar on Thursday, although its rise could run out of steam if British retail sales data disappoints, painting another bleak picture for the economy.While forecasts point to a drop in consumer spending due to unusually cold weather in March, a worse-than-expected number could revive concerns that the UK economy slipped into recession in the first quarter of the year. That will keep alive expectations of more quantitative easing by ...
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