Wednesday in Asia, the yen rose to near a 2-week high against the U.S. dollar and it recouped early losses against other major currencies on risk aversion amid growing concerns about the political turmoil in Libya and surging crude oil prices.
Latest reports say that embattled Libyan leader Moammar Gadhafi rejected calls for his resignation in a defiant speech on state television. Gadhafi, who has been in power in Libya for over 40 years, has seen his stranglehold over the North African nation wane in the wake of massive protests that have overwhelmed the country over the last couple of days.
Most Asian stocks declined. Japan’s Nikkei 225 index is currently down by 87.94 points or 0.8% at 10,576.11.
In economic news, Japan posted a merchandise trade deficit of 471.4 billion yen in January, the Ministry of Finance said today. That came as a shock to analysts, who had been expecting a surplus of 49.3 billion yen following the downwardly revised surplus of 725.9 billion yen in December.
Meanwhile, an index measuring corporate service prices in Japan was down 1.1 percent on year in January, the Bank of Japan said, standing at 96.1. That was slightly better than forecasts for a 1.3 percent annual contraction. Prices were down 0.3 percent on month following a 0.2 percent decline in December.
The yen is currently trading near a 2-week high of 82.55 against the US dollar with 82.0 seen as the next upside target level. At yesterday’s close, the dollar-yen pair was quoted at 82.82.
The yen is now worth 113.10 against the euro, 88.10 against the franc and 133.57 against the pound, compared to early Asian session lows of 113.61, 88.44 and 134.16, respectively. The yen closed yesterday’s trading at 113.07 against the euro, 133.67 against the pound and 88.25 against the franc.
The yen slipped to 83.16 against the Aussie before bouncing back in early Wednesday Asian deals at 8:00 pm ET. As of now, the yen is trading near yesterday’s close of 82.75.
The yen that fell to 83.86 against the Canadian dollar at 8 pm ET rebounded thereafter. Currently, the loonie-yen pair is worth 83.50, compared to yesterday’s close of 83.60.
At present, the yen is worth 61.75 against the NZ dollar, compared to an early Asian session low of 62.27. The kiwi-yen pair closed yesterday’s trading at 61.85.
Looking ahead, France CPI and Swiss producer and import price index – both for January, Bank of England’s minutes for February meeting and the Eurozone industrial new orders for December are expected in the upcoming European session.
The U.S. existing home sales for January is due in the New York morning.
excellent points altogether, you just won a new reader. What might you recommend about your put up that you simply made a few days ago? Any sure?
Usually, I always have the Edge server utilizing inner DNS and never have the Edge exterior NIC with DNS server IP listed.
I loved as much as you will receive carried out right here. The sketch is attractive, your authored material stylish. nonetheless, you command get bought an shakiness over that you wish be delivering the following. unwell unquestionably come further formerly again as exactly the same nearly very often inside case you shield this hike.
Daily meditation using the Seven Regulations from Destination has a powerful capability to deliver you what you intend, and might also aid you along with dealing with your character resource.
Are you involved that it’s not healing accurately?
Its like you learn my thoughts! You seem to understand so much about this, like you wrote the guide in it or something. I believe that you simply can do with some p.c. to force the message house a bit, however other than that, that is fantastic blog. A fantastic read. I’ll definitely be back.
I am truly grateful to the holder of this website who has shared this wonderful piece of writing at at this place.
When you really take a look at the style wherein he spoke to me, you will notice why I replied to him the best way I did.
This design is spectacular! You obviously know how to keep a reader amused. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Great job. I really loved what you had to say, and more than that, how you presented it. Too cool!
Our company’re the only telepathic. website to deliver audiences a choice
of colors to view our web site in. It’s thus easy to do. Only select the final key on the
right of our menu club as well as our styles will certainly be shown to you.