Japanese Yen
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    Japanese Yen

    The yen rose from near its weakest level against the dollar since June 2010 after the Bank of Japan (8301) said it will conduct open-ended asset purchases from 2014, disappointing investors who expected bolder action now.

    Japan’s currency advanced at least 0.2 percent against all of its 16 major counterparts after the BOJ said it will buy about 13 trillion yen ($146.6 billion) in assets per month from January 2014 and as it set a 2 percent inflation target. The euro rose for the first time in three days versus the dollar after German investor confidence in January increased to the highest in 2 1/2 years, adding to signs that Europe’s largest economy is gathering momentum.

    source_http://www.bloomberg.com/news/2013-01-21/yen-snaps-rally-from-2-1-2-year-low-before-boj-policy-decision.html

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    The yen headed for a record stretch of weekly losses against the dollar as data showing a decline in Japanese consumer prices added to the case for further monetary stimulus from the central bank.

    The Japanese currency touched a 2 1/2-year low before Bank of Japan (8301) Governor Masaaki Shirakawa speaks today. His policy board announced open-ended easing and a 2 percent inflation target this week. Deputy Economy Minister Yasutoshi Nishimura said yesterday the currency’s decline isn’t over and a level of 100 versus the U.S. dollar wouldn’t be a concern. The Dollar Index rose before U.S. data forecast to show home sales rose.

    source_http://www.bloomberg.com/news/2013-01-24/yen-tumbles-after-minister-says-its-slide-isn-t-over-yet.html

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    Japan’s policies that weakened the yen will boost Thailand’s baht, unlike the currencies of South Korea and Taiwan, as the Detroit of Asia benefits from cheaper car parts and engines from the world’s third-largest economy.

    Thailand, a hub for Japanese carmakers including Toyota Motor Corp. (7203) and Nissan Motor Co. (7201), bought 54 percent of auto components from Japan in 2012, official data show. Importers are “too pleased with the situation,” Thai Finance Minister Kittiratt Na-Ranong said Jan. 24, after Japanese Prime Minister Shinzo Abe’s push for “bold monetary easing” to revive the economy sent the yen to a 2 1/2-year low against the dollar.


    source_http://www.bloomberg.com/news/2013-02-04/yen-slide-against-baht-a-boon-for-thai-carmakers-southeast-asia.html

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    The yen slid to its weakest level in almost three years against the dollar and euro on speculation Japan’s government will hasten the selection of a new central bank chief to take further steps to end deflation.

    Japan’s currency added to yesterday’s biggest drop versus the euro in more than a week after Bank of Japan Governor Masaaki Shirakawa said he will step down on March 19, almost three weeks before his term is due to end. Demand for the 17- nation euro was supported on prospects the European Central Bank will refrain from easing monetary policy tomorrow. The Australian dollar slid after data showed the nation’s retail sales unexpectedly fell in December.


    source_http://www.bloomberg.com/news/2013-02-05/yen-touches-almost-3-year-low-versus-euro-dollar-on-boj-change.html

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    The yen gained the most since March 2011 against the dollar after Japanese Finance Minister Taro Aso said the currency weakened faster than expected.

    “The yen’s sudden move from 78 or 79 to 90 was not something we anticipated,” Aso said in Japan’s parliament. The currency has tumbled 19 percent in the past six months, the worst performer among 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes. The dollar depreciated 2.1 percent and the euro gained 7.2 percent.


    source_http://www.bloomberg.com/news/2013-02-07/euro-near-2-week-low-poised-for-weekly-drop-on-draghi-warning.html

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    The yen traded 0.3 percent from its weakest in almost three years after a U.S. Treasury official signaled support for Japan’s efforts to end deflation before the Bank of Japan holds a meeting this week to decide on policy.

    The yen held yesterday’s biggest daily drop in more than two weeks after Haruhiko Kuroda, a potential contender for BOJ governor, said additional monetary stimulus could be justified for 2013. The euro remained higher after European Central Bank council member Jens Weidmann said it isn’t overvalued. New Zealand’s dollar rose after data showed house prices and card spending increased.


    source_http://www.bloomberg.com/news/2013-02-11/yen-near-3-year-low-as-treasury-backs-japan-stimulus-plan.html

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    The yen halted a two-day advance as investors overlooked the Bank of Japan’s decision to keep its asset purchases unchanged and speculated the central bank will add stimulus next month as the nation’s economy slows.

    The yen fell after former BOJ Deputy Governor Kazumasa Iwata, a potential candidate to become the next central bank head, signaled the currency has scope to depreciate further. Data showed today Japan’s gross domestic product unexpectedly shrank in the fourth quarter. New Zealand’s dollar, nicknamed the kiwi, rose for a third day after figures showed the nation’s manufacturing industry grew at the fastest pace since May.


    source_http://www.bloomberg.com/news/2013-02-13/yen-advances-a-3rd-day-before-g-20-meets-kiwi-holds-gain.html

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    The yen fell versus the dollar the first time in four days after a Group of 20 official said there isn’t a plan for a statement by the nations to echo a Group of Seven pledge to avoid using exchange rates as policy targets.

    The Japanese currency, which has lost 7.2 percent this year versus the dollar as Japan seeks to spur growth, declined for the week amid bets G-20 finance chiefs won’t publicly criticize the Asian nation. The latest draft of a statement to be released tomorrow will urge members to avoid competitive devaluations and let exchange rates be set by markets, said the official, who sought anonymity because the document isn’t public.

    source_http://www.bloomberg.com/news/2013-02-15/yen-falls-versus-dollar-as-g-20-draft-said-not-to-mention-rates.html

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    The yen fell, extending losses that have made it the worst-performing major currency in the past three months, after Group-of-20 nations refrained from censuring Japanese policies driving the decline.

    Japan’s currency approached the weakest since May 2010 against the dollar as Morgan Stanley said the final G-20 communique released in Moscow fell short of last week’s Group- of-Seven statement and means recent trends in major currencies are set to resume. The pound fell to a seven-month low against the dollar after Bank of England policy maker Martin Weale said U.K. exports may benefit from the currency’s decline.


    source_http://www.bloomberg.com/news/2013-02-17/yen-weakens-after-suga-calls-for-easing-as-kiwi-advances.html

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    The yen dropped against the dollar as traders sold the currency near this month’s high on speculation the Bank of Japan (8301) will ease monetary policy further to boost growth.

    The Japanese currency yesterday rose by the most since May 2010 versus the greenback amid concern Italy may require a second vote after election results pointed to a divided parliament. The euro traded near its lowest level in six weeks versus its U.S. peer on concern European political turmoil will prompt investors to sell the bonds of the region’s most indebted nations. The Dollar Index rose to near a six-month high before Federal Reserve Chairman Ben Bernanke begins two days of testimony to lawmakers.


    source_http://www.bloomberg.com/news/2013-02-25/yen-drops-versus-majors-on-boj-easing-euro-near-six-week-low.html

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