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20/05/2010 00:00 AST
The euro fell on Thursday, edging back towards a four-year low as investors nervous over policy disarray in the euro zone trimmed their assets in the region and used the previous day's bounce to sell the currency.
Higher-yielding currencies such as the Australian dollar and yen crosses also dropped after losses in the Nikkei share average lowered investor risk tolerance, traders said.
There was talk some managers of Japanese mutual funds or "toushin" were selling assets related to emerging markets, the euro zone and higher-yielding currencies, possibly to repatriate funds in case stock falls led toushin holders to cancel, they said.
The euro had rebounded from a four-year low of $1.2143 on Wednesday as traders covered short positions on speculation European monetary officials might move to check its rapid fall.
A European Central Bank spokesman declined comment on the market rumours, and Eurogroup Chairman Jean-Claude Juncker said in Tokyo on Thursday he did not see a need to take immediate action.
"After it rose above $1.2400, players such as speculators and macro hedge funds were said be selling the currency," said a trader at a Japanese trust bank.
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Guardian.co.uk
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
14/09/2024
Federal Reserve officials head into their policy meeting Tuesday closer to their goal of low inflation, but how much they will ease back on interest rates remains an open question.
A week's
AFP
05/04/2018
Stock markets recoiled on Wednesday as China retaliated in an escalating trade war with the United States, leaving investors reluctant to take positions in anything but the safest of assets.
The Gulf Today
04/04/2018
Egypt will start meeting bond investors in Europe this week ahead of a potential euro-denominated bond issue, a document from one of the banks appointed to arrange the meetings showed on Tuesday.
Gulf News
04/04/2018
Foreign investment in France rose 16 per cent in 2017 to levels not seen for a decade as President Emmanuel Macron's (pictured) bid to attract money from abroad gains pace, a government report said o
Oman Daily Observer
03/04/2018
Explaining Japan's economy to foreign audiences is hard.
One big reason for this is that explaining something as large and complex as a $5 trillion economy is an inherently difficult task - the
The National
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