Foreign Exchange News

NEW YORK (MarketWatch) -- The dollar picked up some strength against the yen in late morning Monday, as an analyst noted market perception that Japan does not approve of the sort of rapid appreciation that its currency underwent earlier in the day. The dollar recently traded at 114.56 yen, up from 114.39 yen late Friday. Early Monday it fell as low as 113.75 yen. Ashraf Laidi, chief currency ...

By Atul Prakash LONDON (Reuters) - Gold rallied to hit a new 25-year peak in Europe late on Monday as fund managers shifted more money into the metal on worries about inflation, economic growth and the dollar, analysts said. The metal traded erratically during the day, climbing in Asian business to its highest since March 27, 1981, before slipping 1.6 percent in Europe and then rebounding to set ...

NEW YORK (MarketWatch) -- The dollar remained at two-month lows against the yen Monday, as Asian currencies are swept higher by recent remarks from Chinese central bank officials. The remarks are seen as indicating that the Chinese central bank is planning to diversify its currency reserves. However, Mike Malpede, a senior currency analyst at Man Global Research, said subsequent news reports ...

By Stella Dawson and Thomas Atkins BASEL, Switzerland (Reuters) - The global economy is growing at a dynamic pace and may even accelerate in 2006 as threats fade and companies step up investments, central bankers from major countries said on Monday. The surge in crude oil prices has failed to restrain economic output, trade prospects are improving and central banks have kept a lid on inflation expectations, European Central Bank President Jean-Claude Trichet told a news conference. "The globa ...

NEW YORK (MarketWatch) - U.S. stocks appear poised to open at mixed levels Monday, with investors likely to behave cautiously at the start of the fourth- quarter earnings reports season. Sentiment could be dented somewhat by downgrades of tech bellwethers International Business Machines and Amazon.com, but badly beaten-up General Motors should get a break from a new upgrade from Goldman Sachs.  ...

The Japanese yen hit a three month high against the dollar on expectations US interest rates were near their peak and Japan was unperturbed about its currency’s climb. // Sadakazu Tanigaki, the country’s finance minister, said late on Sunday that the currency market’s recent volatility largely reflected fundamentals. Trading was thin however in Japan due to a public holiday. The yen rose 0.5 pe ...

By Ritsuko Ando NEW YORK (Reuters) - Japanese Finance Minister Sadakazu Tanigaki said on Sunday that the currency market had been volatile of late although it still largely reflected fundamentals, suggesting the government was wary of the yen's rise but in no rush to intervene. "I do not comment on specific levels, but I would say they are largely within fundamentals. But sometimes, with trade t ...

By Lewa Pardomuan SINGAPORE (Reuters) - Gold rose 1 percent to its highest level in nearly 25 years on Monday as funds in Asia poured money into the precious metal, driven by expectations U.S. interest rates will not rise much further. "We are very much in an uncharted territory," said Darren Heathcote, head of trading at N M Rothschild in Sydney. "I'd imagine the sort of target in the next few days will probably be $550 if we don't hold below $542 when we close today," he said. Spot gold r ...

HONG KONG (MarketWatch) -- Asian markets traded mostly up on Monday morning, led by a higher close on Wall Street Friday and the beginning of the seasonally positive effect of the Chinese Lunar New Year. Taiwan's Weighted Index rose as much as 0.91% to 6,755.99 buoyed by the technology-laden Nasdaq Composite Index's multi-year closing high on Friday. The Shanghai Composite Index rose as much ...

BOSTON (MarketWatch) -- A new exchange-traded fund holding Europe's single currency gives investors a convenient way to hedge fluctuations in the U.S. dollar. But unpredictable currency markets could leave unsophisticated investors short-changed. document.write(''); MARKETWATCH PERSONAL FINANCE  IN INVESTING Metals are the current sector heavyweights  IN MUTUAL FUNDS Euro  ...