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Jan 2, 2014

Dollar near five-year high vs. yen, eyes on U.S. data

SINGAPORE (Reuters) – The dollar hovered near a five-year high versus the yen on Thursday, with the focus on whether forthcoming U.S. data will support the case for the Federal Reserve to gradually scale back its bond-buying stimulus over the course of 2014.

The dollar held steady at 105.24 yen, clinging near a high of 105.41 yen set on Monday according to Thomson Reuters data, the dollar’s strongest level versus the yen since October 2008.

Jan 2, 2014

Singapore GDP contracts in Q4, hurt by sluggish manufacturing

SINGAPORE (Reuters) – Singapore’s economy contracted more than expected in the fourth quarter as manufacturing activity weakened, data showed on Thursday, casting some doubt on market expectations for a slight pick-up in growth over 2014.

According to advance estimates from Singapore’s Ministry of Trade and Industry, GDP contracted an annualised and seasonally adjusted 2.7 percent in the final quarter of 2013 from the July-September period.

Dec 31, 2013

Dollar on track for best annual gain vs yen in 34 years

SINGAPORE, Dec 31 (Reuters) – The dollar held near a
five-year high against the yen on Tuesday to be on track to end
2013 up nearly 21 percent, with efforts to revive the Japanese
economy expected to see the trend of broad yen weakness extend
into 2014.

The dollar eased 0.3 percent to 104.89 yen, inching
away from Monday’s peak of 105.41 yen, which was its highest
since October 2008. It has risen 20.9 percent against the yen
this year, its biggest annual gain since 1979 when it climbed
23.7 percent, according to Thomson Reuters data.

Dec 31, 2013

Dollar on track for best year vs yen since 1979

SINGAPORE, Dec 31 (Reuters) – The dollar hovered within
sight of a five-year high versus the yen on Tuesday and was on
track for its biggest yearly percentage gain versus the Japanese
currency in 34 years, having risen nearly 21 percent in 2013.

The dollar last fetched about 104.93 yen, down 0.2
percent on the day and inching away from Monday’s five-year high
of 105.41 yen, the greenback’s strongest level versus the yen
since October 2008.

Dec 10, 2013

No Pacific trade pact this year, ministers to try again next month

SINGAPORE (Reuters) – An ambitious trade pact between a dozen countries around the Pacific Rim will not be finalized this year as hoped, with no agreement on thorny issues like intellectual property, agricultural tariffs and state-owned enterprises.

The U.S.-backed deal, which Washington wanted to conclude this year, aims to establish a free-trade bloc stretching from Vietnam to Chile and Japan, encompassing about 800 million people and almost 40 percent of the global economy. But differences over farm tariffs between the United States and Japan proved to be one of the major roadblocks.

Dec 9, 2013

After WTO, expectations grow for Trans-Pacific trade deal

SINGAPORE, Dec 9 (Reuters) – Expectations are growing that
an ambitious trade pact between a dozen nations around the
Pacific Rim may be wrapped up in 2-3 months, with signs that
political desire for a deal is trumping a string of technical
difficulties in drawing it up.

Just days after the first World Trade Organisation trade
reform deal was pushed through on Saturday, trade ministers from
12 countries are in closed-door talks in a Singapore hotel to
try to tie up the Trans-Pacific Partnership
(TPP).

Dec 6, 2013

Dollar mired near 5-week low ahead of U.S. jobs data

SYDNEY/SINGAPORE, Dec 6 (Reuters) – The dollar hovered near
a five-week low versus a basket of currencies on Friday, with
its near-term fortunes riding on whether key U.S. jobs data will
bolster the case for the Federal Reserve to start scaling back
its monetary stimulus.

The euro held steady near a five-week high versus the
greenback, having powered higher on Thursday after the European
Central Bank gave no fresh indication that it would ease policy
anytime soon.

Dec 5, 2013

Yen above recent lows; euro up on stops before ECB meeting

SYDNEY/SINGAPORE, Dec 5 (Reuters) – The yen hovered above a
five-year low on the euro and a six-month trough versus the
dollar on Thursday, with moves lacking conviction as investors
held their bets ahead of key events, including crucial U.S. jobs
data.

The dollar slipped 0.3 percent to 102.08 yen, having
earlier this week risen as high as 103.38, while the euro held
steady at 139.11, still not far from a five-year peak
of 140.03 scaled on Tuesday.

Dec 5, 2013

Yen firmer but still shaky; focus shifts to ECB meeting

SYDNEY/SINGAPORE, Dec 5 (Reuters) – The yen nudged away from
a five-year trough on the euro and a six-month low versus the
dollar on Thursday, but the moves lacked conviction as investors
held their bets ahead of key events, including crucial U.S. jobs
data.

The dollar eased 0.1 percent to 102.25 yen, having
earlier this week risen as high as 103.38, while the euro
slipped 0.2 percent to 138.89, still not too far from
a five-year peak of 140.03 scaled on Tuesday.

Nov 22, 2013

Yen hits 4-month low vs dollar; Aussie under pressure

SINGAPORE, Nov 22 (Reuters) – The yen fell to a four-month
low versus the dollar on Friday, with the low-yielding Japanese
currency pressured by signs of improving risk appetite and
contrasting outlooks for monetary policy.

Investors also dumped the Australian dollar after the
country’s central bank chief said he was “open-minded” about
intervening to weaken the currency.