NEW YORK (Reuters) – The yen plunged to a near seven-year low against the U.S. dollar on Friday, putting it on track for its worst day in 18 months, after the Bank of Japan shocked financial markets with an aggressive easing of its monetary policy.
In addition to the BoJ’s decision on Friday to expand its purchases of Japanese government bonds, an announcement by the country’s government pension fund that it would increase its holdings of foreign and domestic shares further eroded the yen’s position.
BUENOS AIRES/NEW YORK, Oct 31 (Reuters) – Argentina’s debt
default spread to its Par bonds on Friday after the country
failed to complete an interest payment, raising the risk that
creditors could demand that its cash-strapped government
immediately repay all of its debt.
The country last month deposited a $161 million payment with
a newly appointed local trustee to try to circumvent U.S. court
orders for it to settle with “holdout” investors suing for full
repayment of bonds from a 2002 default before paying debtholders
who accepted a restructuring.
NEW YORK (Reuters) – The dollar on Thursday extended recent gains to a 3-1/2-week high, boosted by unexpectedly strong third-quarter U.S. economic growth and a newly hawkish tone from the Federal Reserve.
A U.S. Commerce Department report showed third-quarter gross domestic product grew by 3.5 percent versus the Reuters 3.0 percent mean forecast of economists.
NEW YORK, Oct 30 (Reuters) – The dollar on Thursday extended
recent gains to a 3-1/2-week high, boosted by unexpectedly
strong third-quarter U.S. economic growth and a newly hawkish
tone from the Federal Reserve.
A U.S. Commerce Department report showed third-quarter gross
domestic product grew by 3.5 percent versus the Reuters 3.0
percent mean forecast of economists.
NEW YORK, Oct 29 (Reuters) – The U.S. dollar surged higher
on Wednesday after the Federal Reserve signaled confidence the
U.S. economic recovery remained on track while investors started
to bet on an interest rate increase sooner than previously
Language in the Fed’s statement largely dismissed recent
financial market volatility and focused on gradually improving
labor markets. The Fed however did not change its benchmark
interest rate but did end its monthly bond purchase program that
was put in place to help keep market interest rates low in order
to spur lending and investment.
NEW YORK (Reuters) – The U.S. dollar weakened on Wednesday ahead of the conclusion of the Federal Reserve’s two-day meeting, as market players expected policy makers to reiterate a cautious stance on raising interest rates.
In mid-morning New York trade, the euro saw a small surge in purchases, which one trading source ascribed to a lack of normal dollar buying by corporate clients.
NEW YORK (Reuters) – The euro recovered lost ground in limited trade on Monday, boosted by weaker-than-expected U.S. housing data that softened a blow to the currency from news that German business morale fell.
The German data took the shine off better-than-expected stress-test results for European banks issued on Sunday but widely leaked at the end of last week.