Yen Falls to 1-Week Low on Reduced Haven Demand Tied to Ukraine

The yen fell to a one-week low versus the dollar on reduced demand for safer assets as Russian and U.S. diplomats met in Paris to address issues surrounding the political crisis in the Ukraine.

The dollar decreased against the majority of its 16 major counterparts after weaker-than-forecast jobs data added to concern the U.S. economy has been slowed by harsh winter weather. The euro declined against the dollar before the European Central Bank meets to review monetary policy tomorrow. Canada’s dollar rose versus the greenback after Bank of Canada Governor Stephen Poloz kept its benchmark interest rate unchanged and said the next move depends on economic progress.

The yen weakened 0.1 percent to 102.30 per dollar as of 5 p.m. in New York after falling to 102.55, its lowest level since Feb. 26. It appreciated to 101.20 on March 3, the strongest level since Feb. 5. The yen was little changed at 140.49 per euro. Europe’s shared currency fell 0.1 percent to $1.3733.

(Source: Bloomberg)

Dollar Gains as Fed Minutes Signal Unabated Tapering; Baht Falls

The dollar gained the most in three weeks after Federal Reserve policy makers signaled emerging-market turmoil and economic reports that have fallen short of forecasts won’t interrupt stimulus-tapering plans.

The U.S. currency strengthened versus most of its 16 major peers, including those of commodity producers Canada and Australia, as Treasury yields rose after “several” central bank officials said “there should be a clear presumption in favor of continuing” the pace of bond-buying reductions, barring a change in the economic outlook. Emerging-market currencies weakened as anti-government protests escalated in Ukraine and Thailand.

The Bloomberg Dollar Spot Index, which tracks the currency against 10 major counterparts, added 0.3 percent to 1,020.16 as of 5 p.m. in New York, the largest increase on a closing basis since Jan. 30.

The yen rose 0.1 percent to 102.31 per dollar after dropping 0.4 percent yesterday, and Japan’s currency rose 0.2 percent to 140.51 per euro. The dollar gained 0.2 percent to $1.3733 per euro after sliding to $1.3739.

(Source: Bloomberg)

Yen Slides as Bank of Japan Boosts Lending; Forint Declines

The yen slid to the weakest this month against the dollar and the euro after the Bank of Japan boosted its lending programs and said it will maintain monetary easing to stamp out deflation.

The dollar erased gains against a basket of peers after a gauge of manufacturing growth slowed more than forecast. Hungary’s forint declined versus most of its main counterparts as the central bank dropped the two-week deposit rate to a record low. The Thai baht fell with most emerging-market currencies as police clashed with protesters in Bangkok. Investors outside the U.S. increased holdings of Treasuries the most since 2011.

The yen fell 0.4 percent to 102.36 per dollar at 5 p.m. in New York after depreciating to 102.74, the weakest level since Jan. 31. Japan’s currency slid 0.8 percent to 140.83 per euro and reached 141.03, lowest since Jan. 29. The dollar fell 0.4 percent to $1.3759 per euro and touched $1.377, weakest since Jan. 2.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 of its major counterparts, was little changed at 1,017.34.

(Source: Bloomberg)