Market News

The recent release of economic data from China, indicating that their economy is continuing to grow at a fast pace even as inflationary pressures increase, raised investor expectations...

With the expectation that Japanese exporters will drive demand higher before the fiscal year end on March 31st, the Japanese Yen held steady in Asian trading today.

The Japanese Yen made broad gains in Asian trading today as Japanese firms booked profits prior to their fiscal year end on March 31st.

The Japanese Yen slipped to a 2-week low versus the U.S. Dollar in Asian trading today, as higher share prices in Asian markets triggered investors’ risk appetite,

The Japanese Yen slipped in Asian trading as the government of the People’s Republic of China reaffirmed its current loose monetary policy and Asian share prices rose, all of which served to increase investors’ appetite for risk. Adding to the Yen’s decline against the U.S. Dollar was the news that Japan’s central bank is considering additional easing measures to stimulate the Japanese economy.

Higher yielding currencies declined in Asian trading today as investor concern over the pace of economic recovery in Euro-zone nations reduced demand. Versus the U.S. Dollar,

The U.S. Dollar fell broadly in Asian trading today, dropping to its lowest points in several months versus several currencies. As reported at 1:02 p.m. (JST) in Tokyo, the greenback slipped against the Japanese Yen to 88.67 Yen, a decline of .2%; earlier in the trading session on the EBS platform, it had fallen to 88.47Yen, the lowest price in more than 2 months.

After seeing the pound collapse yesterday, traders can be a bit more optimistic today with the RBA raising rates to 4% and releasing a statement that has a optimistic outlook on the global recovery.

The Australian Dollar retreated in Asian trading today, trimming gains made immediately following the announcement by the Australian central bank that a key interest rate would be raised to 4.0%, up from 3.75%.

The U.S. Dollar rose to a new 9-month peak versus the struggling Pound Sterling in Asian trading today, with the British Pound also trading down against the Japanese Yen. The Pound Sterling was trading at $1.5129 at one point in the day’s session, a 9-month low; this year alone, it has lost better than 6% against the greenback. Versus the Japanese Yen, the Pound traded at 134.50 Yen, its lowest price in nearly a year.

Despite a decline during the Asian trading session, the Japanese Yen managed to hold on to gains made on Thursday; the safe haven currency was bolstered by continuing investor concerns over mounting fiscal problems in Euro-zone countries and doubts over the pace of the worldwide economic recovery. Also helping the Japanese Yen was repatriation of the currency by Japanese importers in advance of the month’s end.

The single currency Euro fell to a new 1-year trough in Asian trading today, attributed largely to continuing investor concerns over the Euro-zone’s fiscal problems, and a round of selling by Japanese exporters, which triggered the fall.

Investor risk aversion following yesterday’s release of worse-than-expected consumer confidence data from the United States, helped to prop up the Japanese Yen, considered a “safe haven” currency

The U.S. Dollar traded within narrow ranges in Asian trading today, as traders await the Federal Reserve’s report to the U.S. Congress tomorrow. Some investors are speculating that Ben Bernanke, the Federal Reserve Bank Chairman, would quash rumors of possible monetary tightening, and have avoided the U.S. currency as a result.

In Asian trading today, the U.S. Dollar Index fell as investors continue to debate the U.S. Federal Reserve’s fiscal strategy, especially as regards the possibility that a key interest rate hike may occur sooner than expected.