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(Reuters) - The euro's rebound from four-month lows stalled on Tuesday, failing to break above technical resistance, though traders said selling could be limited at least until an informal meeting of European leaders this week. Traders have been reducing their massive bets against the common currency in the past couple of days, taking note of prospects - however slender - that EU leaders may agree measures to bolster investor confidence in the euro zone on Wednesday. With speculators' short positions on the euro at a record high, traders were wary of the potential for short-squeeze, despite worries about stability of the banking system in Spain and political gridlock in Greece. "If someone is selling the euro now, I would rather use that as a chance to take profits (from euro short ...

(Reuters) - The dollar bounced back on Wednesday from 2-1/2-month lows against the Japanese yen after upbeat U.S. manufacturing data soothed fears the economy was slowing, though gains were minimal ahead of the next set of figures including payrolls. The Institute of Supply Management report showed the strongest rate of U.S. factory growth in 10 months, a surprise after a string of disappointing data and countering speculation the Federal Reserve will embark on a third round of bond buying to bolster the economy. "After the surprisingly strong ISM number, the next job data will be more important than usual. If it is strong, it could cement expectation of strong recovery at least in the United States," said Mitsuru Saito, chief economist at Tokai Tokyo Securities. The payroll data is due ...

(Reuters) - The dollar hit a fresh 11-month high against the yen and a one-month peak against the euro in Asia on Thursday, supported by growing optimism about the U.S. economy and subsequent rises in U.S. bond yields. The dollar's strength came as other currencies suffered their own problems, with the euro shackled by worries over debt, the yen hampered by speculation of more Bank of Japan easing and the Aussie dollar hurt by worries about growth in China. "Don't think of this as risk-on bets on the global economy. The market has just reviewed its view on the U.S. economy, scaling back expectations of QE3 by the Fed or the view that the U.S. economy will be doing poorly this year," said Makoto Noji, senior strategist at SMBC Nikko Securities. The U.S. unit gained against all other ...

(Reuters) - The dollar hovered at three-month lows against the yen on Wednesday and looked poised to lose ground for a fifth straight day, pressured by the Federal Reserve's pledge last week that it would keep interest rates near zero at least until late 2014. The U.S. Federal Reserve's decision has triggered broad selling in the greenback and battered yields on U.S. Treasury notes, with the yield on the five-year note barely above levels not seen since at least the 1960s. The dollar revisited 76.14 yen, a three-month low it hit the previous day, pushed lower by selling from Japanese exporters and model funds although bargain-hunting by Tokyo margin players lent support, traders said. "The Fed's decision is being slowly priced in the market, and it seems the dollar may stay pressured ...

(Reuters) - Asian stocks rose on Tuesday as the first trading day of 2012 in most markets brought renewed appetite for riskier assets, while U.S. crude jumped more than 1.5 percent to above $100 a barrel on escalating tensions between Iran and the West. Stronger-than-expected manufacturing data from China boosted sentiment in Asia, but Europe's drawn-out debt crisis continued to cloud the outlook and dragged on the euro, which struggled off a decade low against the yen. The official Chinese purchasing managers' index, which indicated a slight rise in factory activity in December, also lifted industrial metals such as copper on hopes of increased demand. "China's PMI number looks positive, better than most people had expected earlier on," said Huang Yiping, chief economist for emerging ...

(Reuters) - The euro struggled to make much headway in Asia on Thursday and consolidated further ahead of an expected European Central Bank interest rate cut and a crucial EU leader summit that is to address the euro zone's two-year-old debt crisis. The euro hovered at $1.3401, roughly in the middle of its tight $1.3332-3486 range from the past week. It nudged as high as $1.3428 after the Nikkei business daily said the G20 was preparing a $600 billion lending facility for the IMF to help Europe, but the effect faded after it was denied by G20 and IMF officials. The euro has gained 1.5 percent since it struck a seven-week trough of $1.3213 on November 25, but investors were wary of taking new bets ahead of the ECB's rate review, widely expected to see them cut by at least 25 basis points ...

(Reuters) - The euro was on track on Friday for its worst monthly slide in nearly a year, slipping back toward an eight-month low against the dollar as equities took a hit, while selling by Japanese exporters pushed it closer to a 10-year low versus the yen. The euro relinquished modest gains made after Germany approved an expansion of the euro-zone bailout fund, pressured by a wall of orders from Japanese exporters wrapping up deals for the end of their financial first half. It lost 0.8 percent to 103.66 yen, taking out some light stop losses below the late New York low of 103.90 yen, and shed 0.3 percent versus the dollar to $1.3549, with some traders detecting macro funds among the sellers. "The euro weakened as strong selling by Japanese exporters emerged, but frankly looking at the ...

(Reuters) - European stock index futures fell and the euro dipped on Wednesday, as investors sought more signs that European leaders were tackling a debt crisis that threatens the financial system before committing bolder market bets. Asian shares mostly lost ground and oil and metals fell, with copper down more than 4 percent, as a rebound in riskier assets ran out of steam. The dollar rose as money managers sought safety in the U.S. currency amid signs that a deal on beefing up the euro zone's rescue fund still faced major hurdles. "Investors think, isn't the European situation better? But we have no way of knowing for sure at this point, and until they're more confident, we probably won't see major buying," said Hiroichi Nishi, equity division manager at SMBC Nikko Securities Inc in ...

(Reuters) - The dollar steadied in Asia on Friday after the impact from a Standard and Poor's warning that it could cut U.S. credit ratings was short-lived, and investors bought back the U.S. currency as they shifted their focus to stress tests on European banks. The ratings agency warned there was a one-in-two chance it could cut U.S. ratings if no deal was reached on raising the government's debt ceiling. The dollar briefly came under selling pressure, but the impact was short-lived, perhaps because Moody's had already raised the possibility of a downgrade. Dealers said the market might also be hoping that the pressure from the agencies would jolt U.S. lawmakers into doing a deal. "The impact from S&P's move is very limited. Obviously, it's not great for the dollar, but contrary to ...