Business Recorder - Markets - Financial https://www.brecorder.com/ Business Recorder en-Us Copyright 2026 Thu, 13 Aug 2026 19:29:34 +0500 Thu, 13 Aug 2026 19:29:34 +0500 60 Dollar range bound against yen https://www.brecorder.com/news/6100/dollar-range-bound-against-yen <p class="MsoPlainText"><img style="margin-right: 10px; margin-bottom: 10px; float: left;" src="https://i.brecorder.com/images/stories/pics2011/mar/dollar-yen-400.jpg" width="400" height="276" />TOKYO: The dollar moved narrowly against the yen in Asia on Tuesday, with trading lacklustre amid continued worries over unrest in the Middle East and North Africa, dealers said. The dollar fetched 82.28 yen in Tokyo morning trade, little changed from 82.25 yen in New York late on Monday. The euro eased slightly to $1.3966 from 1.3971. The single European currency was marginally higher at 114.91 yen compared to 114.82 yen. The debt woes of the eurozone surfaced again on Monday after rating agency Moody's announced it had downgraded the sovereign debt rating of Greece. The agency slashed Greece's credit rating by three notches from Ba1 to B1 and warned it could be downgraded further given the risks to the country's stabilisation efforts. The euro initially slipped lower on the news but its negative impact on the single European currency proved short-lived, dealers said. The move was particularly embarrassing for Athens, coming days before a crucial eurozone leaders' summit that will discuss plans for a permanent debt rescue system. Athens blasted Moody's move as "completely unjustified". The yen was supported overnight by purchases from investors seeking safe-haven assets amid continuing turmoil in the Middle East and North Africa, dealers said.</p> <p class="MsoPlainText">Crude oil prices surged again on Monday, heightening fears for global growth as traders fretted about escalating clashes in Libya between forces loyal to leader Moamer Qadhafi and rebels seeking to end his four-decade rule. New York's main contract, light sweet crude for delivery in April, settled at $105.44 a barrel, a gain of $1.02 since Friday. The benchmark WTI futures contract had already gained more than 20 percent in the past two weeks. Earlier on Monday, it reached an intraday peak of $106.95, the highest mark since September 26, 2008. The higher oil prices battered global stock markets on Monday. But the Tokyo market stabilised on Tuesday, with the benchmark Nikkei stock average staging a modest rebound. The euro has been underpinned by rate hike expectations, dealers said.</p> <p class="MsoPlainText">"Investors are pricing in a potential rate hike in April though they can't buy the pair (the euro versus the dollar) aggressively because of the Middle East risk," Osao Iizuka, a senior dealer at Sumitomo Trust & Banking, told Dow Jones Newswires.</p> <p class="MsoPlainText">"Given bond yield differentials, however, I think they will continue to buy on dips," Iizuka said. The dollar sank to a four-month low against the euro on Friday as traders bet on the European Central Bank to raise interest rates next month.</p> <p><center><b><i>Copyright AFP (Agence France-Presse), 2011</i></b><i></i></center></p> TOKYO: The dollar moved narrowly against the yen in Asia on Tuesday, with trading lacklustre amid continued worries over unrest in the Middle East and North Africa, dealers said. The dollar fetched 82.28 yen in Tokyo morning trade, little changed from 82.25 yen in New York late on Monday. The euro eased slightly to $1.3966 from 1.3971. The single European currency was marginally higher at 114.91 yen compared to 114.82 yen. The debt woes of the eurozone surfaced again on Monday after rating agency Moody's announced it had downgraded the sovereign debt rating of Greece. The agency slashed Greece's credit rating by three notches from Ba1 to B1 and warned it could be downgraded further given the risks to the country's stabilisation efforts. The euro initially slipped lower on the news but its negative impact on the single European currency proved short-lived, dealers said. The move was particularly embarrassing for Athens, coming days before a crucial eurozone leaders' summit that will discuss plans for a permanent debt rescue system. Athens blasted Moody's move as "completely unjustified". The yen was supported overnight by purchases from investors seeking safe-haven assets amid continuing turmoil in the Middle East and North Africa, dealers said.

Crude oil prices surged again on Monday, heightening fears for global growth as traders fretted about escalating clashes in Libya between forces loyal to leader Moamer Qadhafi and rebels seeking to end his four-decade rule. New York's main contract, light sweet crude for delivery in April, settled at $105.44 a barrel, a gain of $1.02 since Friday. The benchmark WTI futures contract had already gained more than 20 percent in the past two weeks. Earlier on Monday, it reached an intraday peak of $106.95, the highest mark since September 26, 2008. The higher oil prices battered global stock markets on Monday. But the Tokyo market stabilised on Tuesday, with the benchmark Nikkei stock average staging a modest rebound. The euro has been underpinned by rate hike expectations, dealers said.

"Investors are pricing in a potential rate hike in April though they can't buy the pair (the euro versus the dollar) aggressively because of the Middle East risk," Osao Iizuka, a senior dealer at Sumitomo Trust & Banking, told Dow Jones Newswires.

"Given bond yield differentials, however, I think they will continue to buy on dips," Iizuka said. The dollar sank to a four-month low against the euro on Friday as traders bet on the European Central Bank to raise interest rates next month.

Copyright AFP (Agence France-Presse), 2011

]]> Markets https://www.brecorder.com/news/6100 Tue, 08 Mar 2011 07:58:04 +0500 none@none.com (Syed Murtaza Gheblehzadeh)