Europe
Friday, 02 March 2012 18:43
1060
LONDON: The yen fell to nine-month lows versus the dollar on Friday, retreating after data showed persistent negative price pressures in Japan which are likely to keep the Bank of Japan's focus on monetary easing and undermine the currency.
The dollar rose around 0.7 percent to 81.718 yen on trading platform EBS after taking out Tuesday's high of 81.661 in early European trade.
Japan's core consumer prices fell year-on-year for the fourth consecutive month in January, suggesting mild deflation could persist this year as lacklustre wage growth curtails domestic demand.
The Japanese currency has taken a hit after the Bank of Japan's surprise monetary easing in February, while the dollar found some reprieve this week after US Federal Reserve Chairman Ben Bernanke stopped short of signalling more stimulus.
The dollar rose 0.4 percent versus a currency basket to 79.102.
"The Japanese data is persistently deflationary and the Bank of Japan is ...
LONDON: Sterling edged higher against the broadly weaker euro on Friday as investors trimmed bets on further quantitative easing in the UK, although it ran into some profit-taking against the US dollar, dragging it below recent peaks.
The euro drifted lower, retreating from a three-month high against the dollar, after the European Central Bank pumped more cash into the banking system and as concerns regarding Greek austerity and restructuring programme remain.
And while these worries have led ...
ISTANBUL: The Turkish lira fell on Friday after the central bank eased liquidity while rising oil prices triggered concerns over a current account deficit that is seen as the economy's main weakness, pushing down bonds.
The share market escaped the bearishness only after a technical problem forced the Istanbul Stock Exchange to cancel the morning trading session on Friday, and there was no word on when trading would resume.
Investors sold Turkish assets after crude ...
LONDON: Sterling hit a 3-1/2 month high against the dollar on Wednesday after Bank of England policymakers nudged the bar higher for more monetary easing, while it advanced on the euro after the European Central Bank injected a huge amount of cheap funds.
The pound was also supported by month-end rebalancing flows by portfolio investors, which traders say is likely to keep the dollar under pressure against most major currencies. Still, a reported option barrier at ...
LONDON: The US dollar fell to a five-month low against the Canadian dollar on Wednesday as a massive injection of liquidity by the European Central Bank bolstered risk appetite and boosted growth-linked currencies.
The greenback fell 0.7 percent on the day to C$0.9875, its lowest level since September last year, taking out stops below C$0.9960. Strong oil prices added to demand for the Canadian currency which also gained against the euro, with the single currency trading ...
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