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- Euro zeros in on 2012 low as Greek exit fears grip markets
- Yen to stay pressured ahead of BOJ; Aussie tad lower
- Euro up on China easing, Greece prospect; yen 6-mth low
- Euro hits 3-week low vs dlr on bailout delay worries
- Qatar c.bank satisfied with property credit growth
- Japan Azumi: to act firmly on FX volatility, speculation
- Portugal, Greek concerns weigh on world stocks
- Yen at 1-mo lows as Japan posts rare trade deficit
- Shares gain as Europe funding worries recede
- Euro Falls on Concern S&P Downgrade Will Hurt French Debt Sale Today
- Indian rupee seen under pressure on euro zone woes -finmin
- Asian shares rise; Oil spikes on Iran tension
- Euro struggles after ECB tender; more pressure eyed
- Asian shares, euro gain after upbeat U.S. data
- Swiss franc falls sharply after CPI data
- Euro consolidates gains; yen edges lower
- Dollar near 6-wk high as sovereign debt crisis dominates
- Dollar falls to 2-1/2 week low versus yen
- Stocks, euro rise on hopes of progress in Europe
- China Oct inflation drops, more policy tweaks seen
- Euro consolidates after rally; can rise further
- Asia shares steady but capped before EU summit
- Risk aversion sends assets down broadly pre-EU Summit
- Euro sags as Germany undercuts hope on crisis plan
- Euro rally takes a breather, more short-covering eyed
- Behind closed doors, China leaders to ponder big choices
- Euro Reaches Decade Low Versus Yen on Signs Debt Crisis Weighing on Growth
- Euro falls, stung by doubts about EFSF powers
- REFILE-FOREX-Euro bounce pauses, plenty of risk ahead
- Dollar Holds Two-Day Drop Against Euro as Asian Shares Advance
- Italy downgraded, IMF says Europe behind the curve
- Euro falls after EU finance ministers break no new ground on crisis
- Euro steady on move by central banks, EU meet eyed
- Euro relieved for now, more headwind ahead
- Euro firm after short-covering rally, downtrend intact
- Euro extends losses, hits 10-yr trough on yen
- Euro struggles, dollar bulls unimpressed by Obama
- Euro seen facing headwind ahead of ECB
- Euro falls to 6-mth low vs yen as debt fear mounts
- Euro, Aussie dollar struggle as risk aversion mounts
- Franc, Yen Advance as Economists Predict U.S. Job Growth Slowed Last Month
- Aussie in positive territory after local data
- FOREX NEWS :: Dollar steady after short- covering rally
- Japan boosts FX monitoring, creates $100 bln credit line
- Pound reverses fall vs euro but euro zone, UK concerns weigh
- Dollar Rallies as Fed Statement Fails to Calm Concern Over Slowing Growth
- FOREX-Swiss franc hits record vs euro as market confidence dives
- G7 seeks to calm markets rocked by debt crises
- Swiss franc elevated on economy fear, yen on BOJ watch
- Yen dives as Japan follows Swiss in currency war
- US Congress deadlocked over debt as default looms
- US debt standoff makes investors sell stocks, buy gold
- Japan's Noda repeats warning on yen rise
- FX Concepts’ Taylor Sees One More ‘Risk Rally’ Before Recession Takes Hold
- Bank of Korea confident U.S. will avoid debt catastrophe
- FOREX-Euro, dollar strike new lows on Swiss franc
- FOREX-Dollar steadies as impact from S&P warning short-lived
- Yen Declines on Speculation Japan Will Intervene; Aussie, Kiwi Strengthen
- FOREX-Euro sinks to record low vs Swiss franc as debt concerns spread
- CME to launch new Yuan FX futures contracts
- With Gold Set To Peak At $1,700, Miners Like Goldcorp Look Cheap
- FOREX-Euro vulnerable; ECB hike factored in
- Canada’s Dollar Weakens After Traders Consider Recent Advance Overdone
- Thaksin sister prepares to lead Thailand after stunning win
- Euro Climbs to Two-Week High Versus Dollar on Rate Prospects; Won Advances
- Optimism before Greek vote lifts Asian stocks
- Euro Falls Versus Dollar, Yen Before EU Ministers Meet on Greece Financing
- Euro gains after Greek vote, Nikkei futures drop
- CANADA FX DEBT-C$ hit for second day by US and Greek worry
- Euro Declines to Three-Week Low on Concern Europe Debt Crisis Is Worsening
- China’s Equity Markets
- FOREX-Euro and Aussie edge up, China CPI not as bad as feared
- EMERGING MARKETS-Latam FX slumps; Mexico peso at 2-month low
- Euro Falls, Heads for Weekly Drop, on Speculation Rate Increases Will Slow
- FOREX-Euro pins hopes on ECB; kiwi bolstered by RBNZ
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Franc, Yen Advance as Economists Predict U.S. Job Growth Slowed Last Month
Dated Posted: 2011-09-02
The euro traded at $1.4273 as of 9:34 a.m. in Tokyo from $1.4259 in New York yesterday, having lost 1.6 percent this week, the most since July 8. Photographer: Chris Ratcliffe/Bloomberg
The Swiss franc and the yen strengthened before data forecast to show that U.S. job growth slowed last month and on reports the Federal government will sue banks over mortgage-backed securities.
The franc gained for a third day against the euro as Asian stocks and U.S. equity futures declined, spurring demand for safer assets. The euro extended its biggest weekly loss versus the dollar in two months before a German report next week that economists said will show factory orders fell. The U.S. may sue companies including Bank of America Corp. for misrepresenting the quality of securities backed by home loans, New York Times said, citing people briefed on the matter.
“People are putting on safe-haven bids by picking up some yen and franc before the non-farm payrolls data,” said Michael Sneyd, a foreign-exchange strategist at Societe Generale SA in London. “Reports that the U.S. could sue banks just adds uncertainty to the mix.”
The franc advanced 1.4 percent to 1.11815 per euro at 8:18 a.m. in London after rising to 1.11708, the strongest since Aug. 16. The Swiss currency gained 1.1 percent to 78.66 centimes per dollar. The yen climbed 0.5 percent to 109.29 per euro, after appreciating to 109.16, the highest level since Aug. 19.
The euro fell 0.2 percent to $1.4230, having declined 1.9 percent this week, the most since the period ended July 8.
The MSCI Asia Pacific Index of shares retreated 1 percent, snapping a six-day gain. Futures on the Standard & Poor’s 500 Index slipped 0.3 percent.
U.S. Payrolls
U.S. payrolls rose by 68,000 in August, down from a 117,000 increase in July, according to economist estimates before the Labor Department report today.
The U.S. Federal Housing Finance Agency, which oversees mortgage finance companies Fannie Mae and Freddie Mac, is likely to file a lawsuit against more than a dozen large banks in coming days, seeking billions of dollars in compensation, the New York Times said, citing three people briefed on the matter that it didn’t identify. Bank of America, JPMorgan Chase & Co. (JPM), Goldman Sachs Group Inc. (GS) and Deutsche Bank AG (DBK) are among firms that will be targeted by the suits, the newspaper said.
“The possibility that banks may be sued over mortgages appears to be fueling risk aversion,” said Lee Wai Tuck, a currency strategist at Forecast Pte in Singapore. “This, in turn, is causing haven currencies such as the Swiss franc and the yen to be bought.”
The franc and yen tend to strengthen during periods of financial turmoil because their export-reliant economies don’t need foreign capital to balance current accounts -- the broadest measure of trade.
Source: Bloomberg
