Forum Views ()
Forum Replies ()
Read more with google mobile :
Yen gains as risk appetite wanes
Yahoo!
My Yahoo!
Mail
Yahoo! Search
Search:
Sign InNew User? Sign Up
News Home -
Help
Navigation
Primary Navigation
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Secondary Navigation
Singapore
Asia Pacific
World
Search
Search:
Yen gains as risk appetite wanes
AFP - Friday, August 28
LONDON (AFP) - - The euro and the dollar weakened against the yen on Thursday as investors lost their appetite for risk and turned cautious despite increased signs of global economic recovery, traders said.
ADVERTISEMENT
In late London trade the European single currency retreated to 133.27 yen from a level of 134.30 yen reached in New York late on Wednesday, while the dollar slipped to 93.61 yen on Thursday from 94.22 late Wednesday.
"The pendulum has swung back to risk consolidation... with upbeat economic data passed over in favour of caution," said a currency strategist at Societe Generale bank, Patrick Bennett.
The yen and dollar are seen as a safe-haven investments while the euro is viewed as a higher-risk currency and tends to rise with investor confidence.
But investors gave a muted response to figures showing that sales of new US homes soared 9.6 percent in July in what was seen as a further sign of recovery for the troubled housing sector.
There was also a sharper-than-expected 4.9 percent rise in new orders for US manufactured durable goods in July -- the third increase in the last four months and the sharpest gain since July 2007.
"The most likely explanation for the lack of momentum in markets is fatigue," said Mitul Kotecha, an analyst at French bank Calyon.
"There have been plenty of positive data surprises over recent weeks and markets have become increasingly desensitised to such news."
Investors were meanwhile turning their attention to a forthcoming updated estimate of second-quarter US gross domestic product figures and an American consumer sentiment survey.
The recent upturn in market optimism was tempered after the Chinese authorities reportedly said they would try to rein in excessive investment and overcapacity in industries including steel and cement.
Kotecha said this "will not have helped market sentiment as concerns about Chinese growth are likely to resurface."
NAB Capital strategist John Kyriakopoulos said: "Concerns over the sustainability of China's economic recovery continue to weigh on sentiment towards global economic growth."
In a further sign of economic recovery however, a closely-watched survey in Germany published on Wednesday showed businesses in Europe's biggest economy at their most confident since the collapse of US banking giant Lehman Brothers last year.
In London on Thursday, the euro was changing hands at 1.4273 dollars against 1.4250 dollars late on Wednesday, at 133.27 yen (134.30), 0.8800 pounds (0.8773) and 1.5224 Swiss francs (1.5217).
The dollar stood at 93.61 yen (94.22) and 1.0695 Swiss francs (1.0676).
The pound was at 1.6177 dollars (1.6242).
On the London Bullion Market, the price of gold climbed to 943 dollars an ounce from 940.50 dollars an ounce late on Wednesday.
Email Story
IM Story
Printable View
Blog This
Sign in to recommend this article »
0 users recommend
Related Articles: Business
China Telecom first-half profits drop 29 percentAFP - Thursday, August 27
Air New Zealand profit slumps 90 percentAP - Thursday, August 27
Nikkei falls 1.6 pct, eyes on election and ChinaReuters - Thursday, August 27
DEALTALK-Tough task for India to set 25 pct public equity floatReuters - Thursday, August 27
San Miguel in toll road, power plant dealsAFP - Thursday, August 27
Enlarge Photo
Yen gains as risk appetite wanes
Most Popular – Business
Viewed
Profile of swine flu begins to emerge: study
Microsoft apologizes for photo gaffe
Ciudad Juarez, deadliest city in the world: watchdog
Singer Chris Brown sentenced for Rihanna assault
Jackson killed by drugs cocktail: court
View Complete List »
Search:
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved.
Privacy Policy
- Terms of Service
- Community
- Intellectual Property Rights Policy
- Help
Other News on Friday, 28 August 2009 'At least 18 killed' in NW Pakistan suicide attack
Russia charges mystery ship suspects with piracy
Regulators open inquiry into wireless industry
Stanford group finance officer admits huge fraud
Family gathers for Kennedy's final journey
Facebook tightens safeguards after Canada talks
Boeing delays Dreamliner delivery to late 2010
US on recovery track after unrevised GDP drop
Iran MP says rape of some vote detainees proven
Facebook, under Canadian pressure, to tweak privacy
Colombian senator tells Chavez: Open Your Eyes!
| International
|
UN council extends Lebanon force with same mandate
| International
|
EU diplomats say Cuba dissident case worrying
| International
|
US-TECH Summary
Microsoft cuts Xbox price by 25 percent
French official to talk iPhone troubles with Apple
| Technology
|
Suicide bomber kills 22 Pakistani border guards
Mona Lisa comes to life in high-tech art exhibit
| Technology
|
Pakistan suicide bomber hits checkpoint; 18 dead
Tropical Storm Danny churns toward northeastern US coast
Regulators open inquiry into wireless industry
| Technology
|
Myanmar's Suu Kyi to file appeal on case next week
Taiwan confirms 543 dead, 117 missing after typhoon
China endorses resolution on climate change
End military surveillance missions, China tells US
Firefighters battle 3 Calif. wildfires amid heat
East Timor rights abusers unpunished, Amnesty says
GDP declines 1 percent in 2Q, better than expected
US to Malaysia: Stop human trafficking quickly
Vt. gov. says he won't seek re-election
Drone attack in northwestern Pakistan kills 6
Rep. Jenkins: GOP looking for `great white hope'
Elderly have their own worries on health overhaul
India's Tata Steel reveals surprise net loss
Taiwan parliament approves reconstruction budget
Yen gains as risk appetite wanes
Mona Lisa comes to life in high-tech art exhibit
| Entertainment
|
Black Eyed Peas, Miley Cyrus lead U.S. singles chart
| Entertainment
|
Just a Minute With: Tim Gunn of Project Runway
| Entertainment
|
Laura Linney to star in cancer comedy on TV
| Entertainment
|
Death Cab For Cutie scores lead New Moon single
| Entertainment
|
Beyonce to perform at the MTV Video Awards
Denzel Washington movie call takes job fair tone
Time Warner Cable, Verizon to test TV on the Web
| Entertainment
|
Prostitutes turn models for a night in Rio fashion show
TV pitchman Trudeau has FTC fine, ban thrown out
| Entertainment
|
Al Qaeda number 2 urges support for Pakistan jihad
Two Koreas reach deal on reunions of split families
| International
|
Swiss businessmen not returned from Libya: Bern
US-TECH Summary
Poland marks 65th anniversary of Lodz ghetto liquidation
Japan opposition set for win, faces economic woes
| International
|
Saudi security official survives attack
Kidnapped US girl walks into police station 18 years on
Dell net profit down 23 pct
FCC to probe competition in US wireless industry
U.S. hints at flexibility on Israeli settlement halt
AIG extends improbable rally as bears squeezed
Netanyahu calls for 'crippling sanctions' against Iran
Boeing delays 787 Dreamliner first delivery to late 2010
Google adds translation program to Google Docs
Thai court jails Thaksin supporter for royal insult
| International
|
Chavez to fight U.S.-Colombia deal at Latam summit
| International
|
French official to talk iPhone troubles with Apple
Pakistan suicide blast kills at least 21
New website calculates risk of dying
Khamenei hails Iraq Shiite leader's battle against Saddam
Taiwan president seeks to save reputation after storm
| International
|
Facebook, under Canadian pressure, to tweak privacy
U.N. council extends Lebanon force with same mandate
Iran ayatollah: Opposition not stooges for West
Myanmar residents flee into China after new fighting
| International
|
U.S. hints at flexibility on Israeli settlement halt
| International
|
Swedish regulator to Pirate Bay suitor: where's the money?
French minister to meet Apple chief on 'exploding iPhones'
Microsoft cuts Xbox price by 25 percent
New Moldovan parliament meets after communists fail
| International
|
Latvia gets fresh IMF loan, challenges remain
| International
|
Japan opposition set for win, faces economic woes
NKoreans' quiet food aid trip to US
Thousands bid farewell at Kennedy coffin
Two Koreas near deal on reunions of split families
Kidnapped US woman kept 18 years in yard
Japan icon Nakamura ready to take on Spain
NASA readying shuttle Discovery for Friday launch
US asks China not to harm family of Uighur leader
In southern Afghan city, fears of Taliban takeover
U.S. warns Karzai on fraud, corruption, militia ties
After historic 1979 trip, NBA club returns to China
Calif. to shift largest juvenile prison to adults
Idaho GOP hopeful jokes about 'Obama Tags'
Ethnic group in Myanmar said to break cease-fire
Bernanke personal bank account struck by ID theft
China says must reduce emissions, but mentions no targets
Calif. man convicted of abusing son for 18 years
Suicide bomber kills 22 Pakistani border guards
Geologists assess Yosemite hotel rockfall risk
Japan's jobless rate hits record high
S.Korea c/a seen at peak, but to stay in surplus
Seoul shares up 0.9 pct; Hyundai Motor,Mobis rally
Boeing delays 787 Dreamliner delivery to late 2010
Japan: record jobless rate, deflation fears
S.Korean T-bonds slip on supply concerns, shares
Toyota moving NUMMI production to other plants
Jeremy Piven cleared in Broadway sushi dispute
Seoul shares open 0.85 pct higher helped by techs
SKorea's current account surplus shrinks in July
Bayreuth Wagner revival shines
Euro firms against dollar on recovery hopes
2 original Buena Vista members to tour Brazil
CORRECTED: Laura Linney to star in cancer comedy on TV
Black Eyed Peas, Miley Cyrus lead U.S. singles chart
Death Cab For Cutie scores lead "New Moon" single
Arbiter rules for Jeremy Piven in contract dispute
Linney set for offbeat comedy pilot about cancer
9/11 aims to become single largest day of service
Jeremy Piven cleared in Broadway sushi dispute
| Entertainment
|
TV pitchman Trudeau has FTC fine, ban thrown out
Spielberg takes on Crichton's Pirate Latitudes
| Entertainment
|
TV pitchman Trudeau has FTC fine, ban thrown out
| Entertainment
|
Death Cab For Cutie scores lead New Moon single
| Entertainment
|
Complaints of Afghan election fraud pour in
| International
|
Ahmadinejad demands opposition chiefs punished
Ahmadinejad demands opposition chiefs punished
NASA readying shuttle Discovery for Friday launch
China Unicom in deal for Apple's iPhone
Appetite spells three wolves' doom in Switzerland
Iran president wants opposition leaders punished
| International
|
The Beatles rock music invasion reborn in videogame
Saudi royal survives attack claimed by Qaeda
| International
|
US envoy in 'testy' election meeting with Karzai
Palestinians must unite for talks, UN chief says
| International
|
EXCLUSIVE: Berlusconi sues local, foreign media for libel
| International
|
Myanmar fighting forces up to 30,000 to flee to China
| International
|
Britain pledges $1 billion to help Pakistan
| International
|
Microsoft cuts Xbox price by 25 percent
| Technology
|
U.S. unveils new rules on border searches of laptops
| Technology
|
Australia defends 'discriminatory' Aboriginal plan
China Unicom in deal for Apple's iPhone
| Technology
|
In testing times, samurai craze sweeps Japan
Poll: Americans support Obama on energy issues
UN says 30,000 flee Myanmar amid fears of civil war
Lynching victim Till's casket to go to Smithsonian
Taiwan readies for Dalai Lama visit as China fumes
Stepdad: Girl held 18 years enjoys 'happy' reunion
Everything must go! Calif. holds giant garage sale
Thai woman jailed for 18 years over royal slur
Berlin wall post costs Vietnam blogger job: editor
Who needs a smoking gun? Here's the hot pants tape
N.Korea agrees to restart reunions, free fishermen
China urges US to end military surveillance at sea
Nixon dug deep for dirt on Ted Kennedy
More than 1,500 ordered to flee Calif. wildfires
Two Koreas agree on family reunions: statement
Taiwan media's warning on Dalai Lama visit
Taiwan dollar falls on importers, fund outflows
Toyota to end production at California plant
China to drop auto parts tariff: state media
Japanese auto production sinks in July
Court throws out FCC cable ownership limit
| Entertainment
|
Seoul shares rise; up 1.9 pct in August =2
First Chinese airline goes bankrupt: state media
Australia defends 'discriminatory' Aboriginal policy
Japan's jobless rate hits record ahead of election
Lithuania's bitter World War II legacy
Malaysia's PM says bold reforms vital for recovery
Seoul shares rise; end up 1.9 pct on August
Ramadan thunder keeps ritual alive in the Holy City
Powerful undersea quake strikes eastern Indonesia
Spielberg takes on Crichton's "Pirate Latitudes"
Japan auto production sinks in July
'Wizards of Waverly Place' transforms into movie
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights