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.
SG
This is my first time pay a quick visit at here and i am really pleassant to read everthing
at single place.
The V model offers a strongly structured process similar to the waterfall model, but offers shorter feedback loops.
Generally E-coli take shelter in the digestive system of human beings,
mostly in the intestines. When first planning to
learn how to build a waterfall and pond, there are two very important
structures that you need to focus on first: the part of the pond where the water falls and the structure from
which the water falls from.
Hello! I could have sworn I’ve been to this website before but after reading through some of
the post I realized it’s new to me. Nonetheless, I’m definitely delighted I found it and I’ll be bookmarking and checking back often!
It’s appropriate time to make a few plans for the longer term and it’s time to be happy.
I’ve read this submit and if I could I want to recommend you some attention-grabbing things or advice.
Maybe you could write subsequent articles referring to this article.
I wish to read even more issues about it!
Hmm it seems like your website ate my first comment (it was super
long) so I guess I’ll just sum it up what I had written and say, I’m thoroughly enjoying
your blog. I too am an aspiring blog writer but I’m still new to everything.
Do you have any helpful hints for rookie blog writers?
I’d certainly appreciate it.nfl jerseys wholesale
fantastic issues altogether, you simply gained a logo new reader.
What would you recommend about your publish that you just made
some days in the past? Any sure?
Very good article. I will be dealing with many of these issues as well..
Appreciating the dedication you put into your website and in depth information you offer.
It’s awesome to come across a blog every once in a while that isn’t the same unwanted
rehashed material. Excellent read! I’ve bookmarked your site and I’m including your RSS
feeds to my Google account.
Hey there! I know this is kinda off topic but I was wondering which blog platform are you using for this site?
I’m getting sick and tired of WordPress because I’ve
had issues with hackers and I’m looking at
options for another platform. I would be awesome if
you could point me in the direction of a good platform.