Arab Today, arab today dollar rebounds against yen
Last Updated : GMT 22:27:42
Arab Today, arab today
Arab Today, arab today

Dollar rebounds against yen

Arab Today, arab today

Arab Today, arab today Dollar rebounds against yen

New York - Arabstoday

The yen slid against its major counterparts and dropped the most in four months versus the dollar as US President Barack Obama and congressional leaders agreed on a plan to prevent a default. The Swiss franc fell from a record against the dollar as gains in stocks boosted investor appetite for higher-yielding assets. The New Zealand dollar reached its strongest ever on improved prospects for the nation\'s exports after data showed faster-than-estimated manufacturing growth in China. The euro fell against most of its peers before Spain sells bonds this week amid concern Europe\'s debt crisis will linger. \"There\'s a relief rally that has taken some of the steam off the yen and the franc,\" said Jeremy Stretch, head of currency strategy at Canadian Imperial Bank of Commerce in London. \"At the end of last week it was getting ever more pressing in terms of time horizon and the market was getting less sanguine about the prospects of a deal.\" The yen slid 0.9 per cent to 77.41 against the greenback in London from 76.76 on July 29 in New York, a record low for a closing level. Japan\'s currency slipped as much as 1.7 per cent yesterday, the most since April 1. The franc retreated 0.8 per cent to 79.19 centimes per dollar. It climbed last week to 78.51, the strongest on record. The US currency was little changed at $1.4394 per euro, from $1.4398 last week. Article continues below Debt agreement The 17-nation euro added 0.8 per cent to move to 1.1397 against the Swiss franc after reaching an all-time low of 1.1272 francs. The common currency advanced 0.8 per cent to 111.47 yen. The New Zealand dollar, known as the kiwi, reached 88.44 US cents, the most since it was freely floated in 1985, before buying 88 cents from 87.93 cents last week. Obama said from the White House that leaders of both parties in the US House and Senate had approved an agreement to raise the nation\'s debt ceiling by $2.1 trillion (Dh7.7 trillion) and cut the federal deficit by as much as $2.5 trillion over a decade. Shortly before Obama spoke, Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell took to the Senate floor to endorse the accord. Treasury Secretary Timothy F. Geithner has said the US will run out of options to prevent a default by tomorrow if the debt limit isn\'t increased. Standard and Poor\'s, which has rated the US AAA since 1941, said on July 14 that the chance of a downgrade is 50 per cent in the next three months and it may cut the rating as soon as this month if there isn\'t a \"credible\" plan to reduce the nation\'s deficit. China\'s manufacturing The yen snapped a two-day advance against the dollar as the MSCI Asia Pacific Index of regional shares climbed 1.3 per cent. The Stoxx Europe 600 Index gained 0.7 per cent and Standard and Poor\'s 500 Index futures rose 0.8 per cent. The Purchasing Managers\' Index for China\'s manufacturing was at 50.7 in July, compared with 50.9 in June, the China Federation of Logistics and Purchasing said in a statement yesterday. That was more than every forecast in a Bloomberg News survey of 13 economists. The yen also weakened amid speculation Japan\'s government and the central bank will take steps to halt gains in the currency that threaten the nation\'s export-led recovery. The yen remains 1.8 per cent from its postwar record of 76.25 per dollar reached on March 17. Finance Minister Yoshihiko Noda yesterday said he\'s watching currency markets closely and that recent movements haven\'t reflected Japan\'s economic fundamentals. The Bank of Japan is prepared to \"proactively\" take policy action should the yen\'s advance threaten economic growth, BOJ board member Hidetoshi Kamezaki said on July 27. \"The rising pressure on the yen has yet to ease,\" said Tatsushi Shikano, a senior economist in Tokyo, who expected the government or the BOJ to take steps\" should the yen resume an appreciation trend.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dollar rebounds against yen Arab Today, arab today dollar rebounds against yen

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday

GMT 21:18 2017 Thursday ,16 February

Chinese Yuan Strengthens to 6.8632 Against USD Wednesday

GMT 09:55 2017 Thursday ,16 February

Robust Omani Riyal exchange rate affirmed

GMT 09:00 2017 Thursday ,16 February

Bahrain Bourse daily trading report

GMT 05:07 2017 Thursday ,16 February

Saudi stocks rise 0.6%

GMT 04:45 2017 Thursday ,16 February

Gold prices edge lower
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday