NEW YORK (Reuters) – The Bank of Japan’s massive monetary stimulus plan has likely led to an overshooting of yen weakness against the U.S. dollar in the short-term but the longer-term down trend remains intact, Oppenheimer Funds’ Alessio De Longis said on Monday.
“We think the yen underperformance from this point in time on is going to be a more gradual one in terms of pace, speed, and magnitude as well,” De Longis said at the Reuters FX Summit.
UNITED NATIONS (Reuters) – Japan’s massive monetary policy stimulus may represent the sharpest weapon in Tokyo’s arsenal to boost its economy and reverse deflationary pressures, however more focused weapons are needed, one top European Union official said on Monday.
Japan’s monetary moves are well understood, European Union Economic and Monetary Affairs Commissioner Olli Rehn told Reuters in an interview on the sidelines of a United Nations conference on the global economy.
NEW YORK, April 19 (Reuters) – Bondholders fighting
Argentina for full repayment on defaulted debt made their final
plea late on Friday to a U.S. appeals court asking them to
affirm prior rulings ordering a $1.33 billion payment, saying
Buenos Aires continues to defy U.S. law.
The 2nd U.S. Circuit Court of Appeals in New York directed
these bondholders, led by NML Capital Ltd, a unit of billionaire
hedge fund manager Paul Singer’s Elliott Management Corp, and
Aurelius Capital Management, to submit a response by April 22 to
a new Argentine payment proposal.