Lead To A Rise In The Dollar/yen

(Reuters) - Gold hovered around $1,560 an ounce on Thursday, and remained on shaky ground as worries about Greece and the euro zone still dominated market sentiment after a European Union summit yielded few practical steps to manage the debt crisis. FUNDAMENTALS * Spot gold edged down 0.1 percent to $1,559.30 an ounce by 0049 GMT, after dropping to $1,533.41 in the previous session. * U.S. gold gained 0.7 percent to $1,559.30. * European Union leaders, advised by senior officials to prepare contingency plans in case Greece decides to quit the single currency, urged the country to stay the course on austerity and complete the reforms demanded under its bailout program. * Spain announced a 9-billion-euro ($11 billion) bailout for troubled lender Bankia on Wednesday, while also seeking ...

(Reuters) - The euro fell to a 21-month low against the dollar on Wednesday as investors added to bearish bets on growing concerns about a chaotic Greek exit and widespread skepticism about the outcome of an EU summit due later in the day. EU leaders are expected to discuss growth-boosting measures but are not expected to produce any plan that would restore optimism among investors, especially given Germany remains strongly opposed to joint euro bonds. Investors are doubtful that the leaders will come up with any measures to calm fears that have grown since an inconclusive Greek election earlier this month left the country on the path to bankruptcy and a possible exit from the euro zone. The euro fell to $1.2615 on trading platform EBS, dropping below the 2012 low of $1.2624 set in ...

(Reuters) - The euro extended its rebound from last week's four-month low on Monday but investors remained concerned over financial turmoil in Greece and Spain, drawing little comfort from a broad G8 pledge to take steps to fight the euro zone's debt crisis. The common currency rose on short-covering after speculators piled up a record amount of bets against it, according to data from a U.S. financial watchdog released late last week. "We are entering a consolidation phase with regard to the euro. It will not be known for a while whether Greece will stay in the euro or not with a Greek election a few weeks away," said Minori Uchida, chief analyst at the Bank of Tokyo-Mitsubishi UFJ. "The market may show some minor reaction to Greek opinion polls... but it is hard to sell the euro in ...

(Reuters) - Gold prices inched up on Monday in the first trading day of the second quarter, waiting for fresh cues from the currency market as investors digest data from China and the United States as well as developments in the euro zone. The dollar index .DXY hovered above a near one-month low hit last Friday after the euro rallied on hopes that Spain could stick to an austerity plan. Gold has largely been taking its direction from the currency market in recent weeks in an otherwise listless range play. "There is no fresh topic in the gold market these days," said a trader at a large bullion house based in Tokyo. "In the past few months people had focused on the debt crisis in Europe, now that worry has calmed down despite some remaining uncertainties and money is flowing back to ...

(Reuters) - Gold prices were little changed on Monday in the first trading day of the second quarter, waiting for fresh cues from the currency market as investors digest data from China and the United States as well as developments in the euro zone. The dollar index .DXY hovered above a near one-month low hit last Friday after the euro rallied on hopes that Spain could stick to an austerity plan. Gold has largely been taking cues from the currency market in recent weeks in an otherwise listless range play. "There is no fresh topic in the gold market these days," said a trader at a large bullion house based in Tokyo. "In the past few months people had focused on the debt crisis in Europe, now that worry has calmed down despite some remaining uncertainties and money is flowing back to ...

Fiscal year-end repatriation flows supported the yen across the board on Wednesday, while the euro was little changed against the dollar after a warning from an ECB official about resolving the debt crisis. The yen edged higher early in the session as Japanese exporters prepared to close their fiscal year on March 31. But analysts said they expected the repatriation effect to be short-lived. Though moderate, a rise in U.S. durable goods orders in February was enough to refocus investors on problems in the euro zone, particularly after cautious comments from European Central Bank Governing Council member Jens Weidmann. Weidman's comments come before a meeting of European Union economic and financial affairs ministers in Copenhagen on Friday and Saturday. "In general as you get closer to ...

The euro slid against the dollar on Wednesday as investors discounted dovish comments from the U.S. Federal Reserve chairman earlier in the week and refocused on the euro zone after comments from an ECB official warning about resolving the debt crisis. The single currency received a boost on Monday when Fed Chairman Ben Bernanke spurred expectations the bank could yet launch a third round of quantitative easing if the U.S. economy needed a boost. Though moderate, a rise in U.S. durable goods orders in February was enough to keep investors focused on the euro zone, with cautious comments from European Central Bank Governing Council member Jens Weidmann adding to wariness around the euro. Weidman's comments come before a meeting of European Union economic and financial affairs ministers ...

The yen advanced against the dollar and the euro on Wednesday on weaker-than-expected factory orders and fiscal year-end buying from Japanese exporters, though gains were seen fading next week on outlooks for ultra-loose monetary policy in Japan. The Japanese currency extended its advance against the dollar after data showed new orders for long-lasting manufactured goods rose less than expected in February and a gauge of future business investment also fell short of forecasts. "The most important takeaway from durable goods is that the recovery in the U.S. economy and the momentum is not as strong as many people had hoped," said Kathy Lien, director of FX research at GFT in Jersey City. "That's why we're seeing a bit of weakness in the dollar and a mild bit of risk aversion." The dollar ...

(Reuters) - The euro fell on Friday after a relatively successful Greek bond swap that should avert a disorderly default was largely priced in, with investors reluctant to hold the currency as worries over other euro zone debt markets persisted. Greece won a strong 85.8 percent acceptance from its private creditors for a bond swap deal which will ease its massive public debt and clear the way for a new international bailout. The euro fell against the dollar after the announcement and extended losses into early European trade to $1.32122, down around 0.4 percent for the day. Traders reported demand around $1.3200 and $1.3170/80 with offers at $1.3290/1.3300. "The market was supported by gathering momentum with respect to the Greek debt swap but it appears to have been a sell on the news ...