Yen, Dollar, Franc Hold Losses as Equity Gains Cut Demand for Refuge
The yen and dollar held onto declines against most of their peers as Asian stocks extended a global rally before reports economists say will show the region’s biggest emerging economies remain resilient.The Australian and New Zealand dollars climbed before reports on Indian economic growth and Chinese manufacturing. The Federal Reserve is set to release today the minutes of its Aug. 9 meeting, at which policy makers pledged for the first time to keep interest rates at a record low through mid-2013. Demand for the euro was limited after European Central Bank President Jean-Claude Trichet said the bank is reviewing its assessment of inflation risks after a slowdown in growth. Trichet said yesterday in Brussels that “risks to the medium-term outlook for price developments are under study.”
No comments:
Post a Comment