Market News

The U.S. Dollar slipped against the Japanese Yen, approaching a 1995 historic low in choppy trading in Asia today.

A short term comeback in the dollar stopped on Thursday but traders said an increase in U.S. Treasury yields could cause more buybacks in the greenback before the Fed’s policy meeting next week.

Speculation exists that a possible rise in the yield of U.S. Treasury instruments may encourage more buybacks of the U.S. Dollar.

In Tokyo trading today, the U.S. Dollar moved higher versus the Japanese Yen and the common currency Euro as investors speculate that the Federal Reserve will likely initiate quantitative easing in tranches.

This year's Middle East trading summit will be taking place in Dubai on November 9th and 10th. The venue of choice will be the Jumeirah Emirates Tower Hotel and Azurite markets will be exhibiting.

The USD inched higher versus the Japanese currency and EUR on Wednesday after the Wall Street Journal exposed the U.S. Federal Reserve was more than likely to reveal plans for gradual Treasury acquisitions at its policy meeting next week.

The U.S. Dollar held slightly above the 1995 historic low of 79.75 Yen versus the Japanese Yen in Asia today, causing the Japan Ministry of Finance to caution investors that they would not hesitate to intervene should the Yen appreciate further.

Now that the Group of 20 has concluded its 3-day meeting in South Korea, investors turn their focus towards Washington, DC where they await the Fed decision on quantitative easing.

The U.S. Dollar held stead in Asian trading today, even as the meeting of the Group of 20 finance ministers sits for their first policy session in South Korea.

Ahead of this weekends’ Group of 20 meeting in South Korea, the U.S. Secretary of the Treasury, Timothy Geithner, commented that he plans to use the meeting as a forum to focus attention on the need to rebalance global economies, and move closer to a coordinated exchange rate policy.

The U.S. Dollar Index slipped in Asian trading today, falling after yesterday’s surprise rate hike by the People’s Bank of China.

At 3:11 p.m. (JST) in Tokyo, the Euro traded at $1.3900, a decline of .2% and well off last Friday’s 8-month peak

The U.S. Dollar continues to extend last Friday’s late rebound in Asian trading today, with the Dollar Index rising and pulling farther from the 10-month trough struck last week. As reported at 12:40 p.m. (JST) in Tokyo, the Dollar Index traded at 77.402 .DXY, a gain of .5%.

Investors cutting their short U.S. Dollar positions helped to give the greenback some respite from the weeks’ lows.

The U.S. Dollar Index struck a new 10-month low in Tokyo trading, continuing to be put under selling pressure, this time pushed lower by the policy tightening actions of the Monetary Authority of Singapore.