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Dec 18, 2013

Dollar on defensive as Fed verdict looms

TOKYO (Reuters) – The dollar was on the back foot against the euro and the yen on Wednesday as traders cautiously looked to what the Federal Reserve will do with its stimulus — a major force that has simultaneously underpinned riskier global assets and restrained the dollar in recent years

The dollar’s index stood at 80.02 .DXY, having slipped from Monday’s high of 80.419, with immediate support seen at the December 11 low of 79.757.

Dec 17, 2013

Euro stands tall, dollar wobbles ahead of Fed

TOKYO, Dec 17 (Reuters) – The euro stayed aloft near
multi-year highs against rivals on Tuesday after surprisingly
strong euro zone manufacturing data, while uncertainty over when
the Federal Reserve would start to reduce its economic stimulus
undermined the greenback.

The Fed will begin its latest two-day policy meeting on
Tuesday. Most economists expect it to begin tapering its $85
billion per month in asset purchases in March, but upbeat U.S.
economic data prompted some investors to bet on a reduction as
early as next month, or even this week.

Dec 17, 2013

Euro holds upper hand, dollar drifts ahead of Fed

TOKYO (Reuters) – The euro held the upper hand on Tuesday after surprisingly strong euro zone manufacturing data, while uncertainty over when the Federal Reserve would start to trim its economic stimulus program kept the dollar on the defensive.

The euro traded at $1.3762, maintaining its slim gains on Monday and not far from a two-year high of $1.3811 reached last week.

Dec 16, 2013

Dollar pins hopes on Fed, yen bounces on profit-taking

SYDNEY/TOKYO, Dec 16 (Reuters) – The dollar moved little in
Asia on Monday as investors waited
to see if the Federal Reserve would begin to scale back its
massive bond buying stimulus program this week.

The only notable mover in Asia was the yen, which recovered
slightly off a five-year low against the dollar as some traders
trimmed their huge yen-selling positions ahead of the Fed’s Dec.
17-18 policy meeting.

Dec 13, 2013

JGBs hurt by weak yen, 10-year yield hits 2-month high

TOKYO, Dec 13 (Reuters) – Japanese government bonds sagged
on Friday, with the benchmark 10-year bond yield hitting a
two-month high on the yen’s slide to five-year lows against the
dollar and rising speculation the U.S. Federal Reserve may
reduce its stimulus.

The shock was strong enough to shake long-held confidence in
the market – that the Bank of Japan’s massive bond buying will
keep JGB yields at abnormally low levels for the foreseeable
future.

Dec 11, 2013

Dollar index near 6-week low, euro helped by year-end flows

TOKYO, Dec 11 (Reuters) – The dollar wobbled near a six-week
low against a basket of currencies on Wednesday, hurt by the
perception the Federal Reserve is in no hurry to trim its
monetary stimulus.

On the other hand, year-end repatriations by European banks
helped to underpin the euro, as did tighter money market
condition and expectations of a banking deal in the euro zone.

Dec 11, 2013

Dollar index near six-week low on Fed doubt; euro buoyant

TOKYO (Reuters) – The dollar wobbled near a six-week low against a basket of currencies on Wednesday, hampered by a growing view that the Federal Reserve needs more positive economic data before it decides to start reducing its monetary stimulus.

By contrast, the euro drew additional help from expectations of a banking deal in the euro zone while other European currencies, such as sterling and the Swiss franc, benefited from signs of improvement in their economies.

Dec 10, 2013

Euro advances as dollar, yen stay out of favour

SYDNEY/TOKYO, Dec 10 (Reuters) – The euro stayed well-bid on
Tuesday, scaling a fresh five-year high on the yen and a
six-week peak against the dollar as expectations for further
stimulus from the European Central Bank continued to fade.

ECB Executive Board member Yves Mersch on Monday played down
the prospect of following the Federal Reserve and Bank of Japan
down the path of asset purchases, saying such action poses
immense challenges for the central bank.

Dec 9, 2013

Euro in favour as brisk U.S. jobs data lifts risk appetite

TOKYO/SYDNEY, Dec 9 (Reuters) – The euro raced to a near
six-week high against the dollar and scaled a fresh five-year
peak versus the yen on Monday after strong U.S. payrolls data
boosted risk appetite despite threats of a possible reduction in
the U.S. monetary stimulus.

The closely watched U.S. payrolls report on Friday showed
employers hired more workers than expected in November, driving
the jobless rate to a five-year low of 7.0 percent.

Dec 6, 2013

JGBs succumb to global bond retreat, futures volume at 6-yr high

TOKYO, Dec 6 (Reuters) – Japanese government bond prices
faltered on Friday, with the benchmark futures contract hitting
a seven-week low in the heaviest trading volume in more than six
years, succumbing to pressure from rising U.S. and German bond
yields.

Speculation that Japan’s public pension fund could reduce
its allocation to JGBs added fuel to fire, steepening the yield
curve, with the 30-year bond yield posting its biggest daily
rise since early July.