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.



Does your website have a contact page? I’m having trouble locating
it but, I’d like to shoot you an email. I’ve got some creative ideas for your blog you might be interested in hearing.
Either way, great blog and I look forward to seeing it grow over time.
Hey there just wanted to give you a quick heads up and let you know
a few of the pictures aren’t loading correctly. I’m not sure
why but I think its a linking issue. I’ve tried it in two different web browsers and both show the same outcome.
It’s going to be end of mine day, but before end I am reading
this enormous post to increase my experience.
Pretty great post. I simply stumbled upon your blog and wanted to mention that
I have really loved browsing your weblog posts. After all I’ll be subscribing
to your feed and I hope you write once more very
soon!
Hi, just wanted to mention, I loved this article. It was funny.
Keep on posting!
高血圧を改善するやり方は、暮らしの習慣を変化させることが肝心であると感じています。
例を挙げると、まず最初に切り替えるとしたら食生活でしょう。脂っこい料理を摂取しすぎずに生野菜を十分食べて、偏らないことを考えた食生活を心がけましょう。
そして、スポーツをすることも肝心です。息が切れるほどのスポーツはしないことと、医師の助言にあった運動をやってください。イチオシは歩くことです。
大切なのは今度やるのではなく、本日から実行することです。早速行動しましょう。
こちらのサイトも良い情報がたくさんあります。
I’m impressed, I have to admit. Rarely do I come across a blog that’s equally educative and amusing, and let me tell you, you have hit the nail on the head.
The issue is something which too few men and women are speaking intelligently about.
Now i’m very happy that I came across this in my search for something concerning this.
I think this is one of the most vital info for me. And i’m glad reading your article.
But should remark on few general things, The website style
is wonderful, the articles is really great : D.
Good job, cheers
Hi to all, how is all, I think every one is getting more from this web page, and your
views are pleasant designed for new people.
Magnificent beat ! I would like to apprentice while you amend your web site, how could i subscribe for a blog website?
The account aided me a acceptable deal. I had
been tiny bit acquainted of this your broadcast offered
bright clear concept