Curb The Yen's Strength

(Reuters) - The yen skidded to a seven-month low against the dollar on Wednesday, with more weakness expected as recent monetary easing in Japan, a rise in oil prices and interest rate differentials weigh on the currency. The euro was flat against the greenback as market participants continued to weigh the implications of Greece's bailout deal and a euro zone economy that is teetering on the brink of a recession. The yen has been on the defensive since the Bank of Japan's surprise move to boost its asset buying program last week. Some analysts said the move could mark the end of the yen's long-term uptrend that prompted Japan to intervene in the currency market three times last year. "We are looking at a sea change in the strength of the yen," said Brian Dolan, chief currency strategist ...

(Reuters) - Japan's finance and economic ministers piled pressure on the Bank of Japan on Thursday to consider easing policy further, as the yen climbs back to levels that led to Tokyo to intervene heavily in currency markets last year to protect its export-reliant economy. BOJ Deputy Governor Hirohide Yamaguchi said he saw no need to ease policy right away, but the central bank could face growing calls to offer more monetary stimulus to help exporters through any prolonged slump, even though it has limited options remaining to support the faltering economy. "Yen buying has strengthened, led by short-term and speculative moves on the back of expectations for low interest rates in the U.S. until 2014," Finance Minister Jun Azumi told lawmakers. "I would like the BOJ to take account of ...

(Reuters) - The euro inched higher versus the dollar and the Australian dollar hit a five-month high on Thursday as risk sentiment improved after global manufacturing data allayed the market's worst fears about global growth. Underscoring its broad retreat, the dollar hovered near a three-month low hit against the yen touched the previous day, and the U.S. currency also fell against emerging Asian currencies such as the Singapore dollar. The euro rose 0.1 percent to $1.3176, pulling away from Wednesday's intraday low of $1.3026. Helping to support the single currency was news that Greece's long-delayed deal with private sector creditors to cut its debt burden is nearly wrapped up. "PMIs in the US, China, Germany are more resilient than expected, encouraging heavy money to finally step ...

(Reuters) - Japan's big trading houses are using financial firepower bolstered by a decade-long commodities boom and a yen near record highs to ramp up a natural resources buying spree. Their multi-billion dollar bet on commodities demand from emerging economies will boost already fierce competition for emerging energy sources like shale gas and for top quality mines with high-grade ore and long mine life. Trading houses like Mitsubishi Corp (8058.T) have set aside a record warchest of 2.6 trillion yen ($33 billion) in the two years to March 2013, which backed by a $130 billion government fund makes them formidable competitors in the race to secure the means to fuel economic growth. For firms armed with a yen hovering around 77 to the dollar, just off a record high 75.55 hit in October, ...

(Reuters) - The euro slipped against the dollar for a second straight day and hit a five-week low against the yen on Tuesday, with more selling expected on fears the euro zone's debt crisis is spreading across the region. Yields on Italian benchmark 10-year bonds climbed back above the key 7 percent level widely deemed unsustainable and Spanish borrowing costs rose ahead of the launch of a new 10-year bond on Thursday. In a worrying sign of contagion, the spread of French, Belgian and Austrian 10-year bond yields over German Bunds all hit their highest levels since the euro's launch in 1999, while the equivalent Dutch spread hit its widest since early 2009. Adding to bearish sentiment, the German ZEW survey showed analyst and investor sentiment slumped in November, the ninth ...

(Reuters) - The euro dropped against the dollar and hit a five-week low against the yen on Tuesday, with more selling seen likely as fears grew the euro zone's debt crisis is spreading across the region. Yields on Italian benchmark 10-year bonds climbed back above the key 7 percent, a level widely deemed unsustainable, and Spanish borrowing costs rose ahead of the launch of a new 10-year bond launch on Thursday. In a worrying sign of contagion, the spread of French, Belgian and Austrian 10-year bond yields over German Bunds all hit their highest levels since the euro was launched in 1999, while the equivalent Dutch spread hit its widest since early 2009. Adding to bearish sentiment, the German ZEW survey showed analyst and investor sentiment slumped in November, the ninth monthly ...

(Reuters) - The euro dropped against the dollar and hit a five-week low against the yen on Tuesday, with selling likely continue as fears grew the euro zone's debt crisis is spreading across the region. Italian 10-year yields climbed back above the key 7 percent, a level widely deemed unsustainable, and Spanish borrowing costs rose ahead of the launch of a new 10-year bond on Thursday. And in a worrying sign of the crisis moving beyond Italy, the spread of French, Belgian, Austria the spread of French, Belgian and Austrian 10-year bond yields over German Bunds all hit the highest levels since the euro was launched in 1999, while the equivalent Dutch spread hit its widest since early 2009. The market's optimism over the new technocrat-led governments in Greece and Italy proved short- ...

(Reuters) - The euro fell on Tuesday, hitting a one-month low against the yen and plumbing a session trough versus the dollar as rises in euro zone bond yields underscored the difficulties facing policymakers in containing the region's debt crisis. Italian borrowing costs continued to rise despite the appointment of former EU Commissioner Mario Monti to head a new government in Italy. Spanish yields also rose ahead of the launch of a new 10-year bond on Thursday. In a worrying sign of the crisis moving beyond the euro zone periphery, the spread of French, Belgian and Austrian 10-year bond yields over German Bunds hit euro-era highs while the equivalent Dutch spread hit its highest since early 2009. "The euro zone debt crisis continues to escalate ... The ultimate outcome is still ...

(Reuters) - The euro fell on Tuesday, coming close to recent lows versus the dollar and hitting a one-month low against the yen as rises in euro zone bond yields underscored the difficulties facing policymakers in containing the region's debt crisis. Italian borrowing costs continued to rise despite the appointment of former EU Commissioner Mario Monti to head a new government in Italy. Spanish yields also rose ahead of the launch of a new 10-year bond on Thursday. However, in a worrying sign of the crisis moving beyond the euro zone periphery, the spread of French, Belgian and Austrian 10-year bonds over German Bunds hit euro-era highs while the equivalent Dutch spread hit its highest since early 2009. The euro was down 0.7 percent at $1.3524, edging closer to last week's one-month low ...