">Forum Views ()
">Forum Replies ()
Read more with google mobile :
Dollar drops back below 100 yen
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:
Dollar drops back below 100 yen
AFP - Thursday, April 9
LONDON (AFP) - - The dollar slipped back below the key 100 yen level on Wednesday as sharp falls on global stock markets restored some of the Japanese currency's safe haven appeal, dealers said.
ADVERTISEMENT
The euro meanwhile dipped against the dollar as worries deepened about the health of eurozone economies.
In morning trading here, the dollar fell to 99.69 yen, down from 100.38 in New York late on Tuesday.
The European single currency retreated to 1.3212 dollars from 1.3273 dollars on Tuesday.
Investors bought the Japanese currency as stocks fell sharply across Asia and Europe, tracking heavy overnight losses on Wall Street.
"As equities have fallen and risk aversion has nudged higher, the foreign exchange market has returned to form, once again favouring the 'safe-haven' dollar and yen," said Calyon analyst Stuart Bennett.
Although the yen has lost much of its allure recently due to Japan's deep economic slump, it is still seen as a less risky investment than many other currencies during times of uncertainty.
On Friday, the dollar had topped 100 yen for the first time in five months.
Pressure on the euro was magnified by expectations that interest rates in the 16-member eurozone will continue to fall, dealers said.
"Among the majors, the strongest selling pressure now is on the euro, because there are still concerns about defaults (among European banks) and the European economic fundamentals are bad," Hideki Amikura, deputy general manager of Nomura Trust and Banking, told Dow Jones Newswires.
The Eurostat statistics agency reported the eurozone economy shrank 1.6 percent in the fourth quarter of 2008 as exports collapsed -- worse than an earlier estimate of a 1.5 percent contraction.
The news sparked speculation that the European Central Bank will lower interest rates again, after cutting its key interest rate by a smaller-than-expected quarter point on April 2, to a record low 1.25 percent.
Meanwhile, Bank of England policymakers sat down Wednesday for a two-day meeting after which they were widely forecast to leave British interest rates at the current level of 0.50 percent, analysts said.
In trading in London on Wednesday, the euro was changing hands at 1.3212 dollars against 1.3273 dollars late on Tuesday, at 131.51 yen (133.25), 0.9001 pounds (0.9012) and 1.5148 Swiss francs (1.5162).
The dollar stood at 99.69 yen (100.38) and 1.1482 Swiss francs (1.1431).
The pound was at 1.4601 dollars (1.4727).
On the London Bullion Market, the price of gold rose to 887 dollars an ounce from 879.75 dollars an ounce late on Tuesday.
Email Story
IM Story
Printable View
Blog This
Recommend this article
0 users recommend
Sign in to recommend this article »
Most Recommended Stories »
Related Articles: Business
Crude oil stockpiles grew less than expectedAP - 1 hour 9 minutes ago
COPPER-Major market developments in MarchReuters - 1 hour 13 minutes ago
FCC gets going on national broadband planAP - 1 hour 17 minutes ago
Suncorp-Metway launches $2.5 bln note sale - IFRReuters - 1 hour 22 minutes ago
Volkswagen US CEO pushes for fuel efficiencyAP - 1 hour 22 minutes ago
Enlarge Photo
Dollar drops back below 100 yen
Most Popular – Business
Viewed
Journalists get shock with 'sexy' White House call
UN sounds warning after Antarctica ice shelf rips
German, Japanese data jolts investors
Ailing lender RBS to cut up to 9,000 jobs
Israeli Jews hold rare prayer to bless the sun
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 Wednesday, 8 April 2009 Israel sees dead end, Obama calls for peace
| International
|
Red Cross says doctors helped CIA torture
| International
|
India urges rich not to use green protectionism
| International
|
Food crisis not over, U.S. aid is key: WFP official
| International
|
Libya's Gaddafi says fears Obama assassination
| International
|
Yahoo's plan: create community from isolated sites
| Technology
|
Sienna Miller excited, scared over Broadway debut
| Entertainment
|
Bollywood calls 'cut' on multiplexes
| Entertainment
|
Italy seeks survivors, prepares to bury quake dead
| International
|
Violence threatens aid in remote Afghan mountains
Peru's Fujimori gets 25 years prison for massacres
| International
|
Major powers look at new ways to coax Iran
Settlers rampage through West Bank village: residents
| International
|
DA: Chinese man plotted to help Iran with nukes
Obama in Baghdad, tells troops Iraq must take over
North Korea making progress in rocket technology: Japan
| International
|
US earnings season kicks off with gloomy outlook
U.S. hints deadline could slip on Russia arms deal
| International
|
Israel tests system to shoot down Iranian missiles
Gloom grips markets braced for US earnings season
Major powers look at new ways to coax Iran
| International
|
Iraqi salesman saves baby after bomb kills mother
Spain's finance minister exits in reshuffle
Myanmar bus accident kills 20 pilgrims
| International
|
Israeli police kill Palestinian at demolition site
Protesters gather in Bangkok for Asian summit
| International
|
Pay should be linked to company value: Goldman CEO
Obama departs Iraq, headed for Washington
UN sounds warning after Antarctica ice shelf rips
Moldovan riot police take control of president's office
| International
|
Obama pushes Iraq for political progress
Baby survives Baghdad bombing
UN sounds warning after Antarctica ice shelf rips
Fear of viruses could be causing PC attacks: report
| Technology
|
Intel unsure when stimulus will lift chip demand
| Technology
|
Taiwan's Elan sues Apple over touchscreen patents
Media resumes photos of Iraq, Afghanistan war dead
Fox columnist axed after reviewing pirated flick
Fidel Castro asks US lawmakers how to improve ties
US newspaper owners are "mad as hell"
Jailed US reporter's dad to stay in Iran
Taiwan's Elan sues Apple over touchscreen patents
| Technology
|
Growing threat from cyber attacks: US general
Six powers to discuss Iran nuclear program
Madoff's Mets baseball tickets may soon go on eBay
Madoff's Mets baseball tickets may soon go on eBay
| Technology
|
Aftershocks rattle Italy quake zone, toll hits 235
US lawmakers wrap up observer mission to Haiti
Google is good for newspapers: executive
French legionnaire in Chad kills four
Obama says Iraq faces 'critical' 18 months
Yahoo's plan: create community from isolated sites
Govt. approves plan for new spy satellites
Gunman kills one, then self at German court
Sony PS3 tops Nintendo Wii in Japan in March: survey
Fidel Castro "energetic" in meeting with U.S. lawmaker
Intel handed $643 mln Danish tax bill: report
US military deaths in Afghanistan region at 602
GM and Segway plan electric two-wheeler
Sony PS3 tops Nintendo Wii in Japan in March: survey
US envoy in India for regional security talks
US Senator McCain returns to wartime Vietnam jail
Malaysia's Anwar says voters rejected new PM
Thai PM Abhisit rejects calls for resignation
Penn resurfaces in White House after suicide
| Entertainment
|
Jackman condemns Wolverine leak
| Entertainment
|
Protesters gather in Bangkok
Jay Leno brings comic relief to battered Motown
| Entertainment
|
Asian summit to go ahead despite Thai protests
Eminem spoofs celebs, Palin in new song
| Entertainment
|
Malaysia's new PM still finalising cabinet
Warner Bros. warns Bollywood: Don't touch Button
| Entertainment
|
Ex-POW McCain visits 'Hanoi Hilton' Vietnam prison
Poehler and company craft winning workplace sitcom
| Entertainment
|
Cera film Paper Heart set for summer release
| Entertainment
|
Chavez in China to strengthen ties built on oil
Thai leader calls for calm ahead of mass protest
Young Star Trek crew boldly walks red carpet
| Entertainment
|
Sharp forecasts bigger loss amid global slowdown
Jackman condemns "Wolverine" leak
Japan's Sharp sees deeper net loss
Wolverine 'heartbroken' over stolen film
Seoul shares extend losses, down 3 pct
Penn resurfaces in White House after "suicide"
Toyota banks on tiny, green but pricier iQ model
Cera film "Paper Heart" set for summer release
S.Korea banks keep lending as credit fears ease
S.Korea bond orders at $6 bln but pricing unexceptional
Korea Hot Stocks
England's Morris dancers fight back
Report: Japan mulls 'cash for clunkers' stimulus
Reports: China auto sales surpass US for 3rd month
Villazon cancels remaining Met performances
Philippines removed from OECD tax blacklist
Cera film "Paper Heart" set for summer release
Indonesian villagers ask when will democracy pay
Warner Bros. warns Bollywood: Don't touch "Button"
Poehler and company craft winning workplace sitcom
Another celebrity eliminated from ABC's `Dancing'
Eminem spoofs celebs, Palin in new song
Fox columnist axed after reviewing pirated flick
Coldplay files response to copyright case
'Rock of Ages' tours the music of the '80s
Bomb near Baghdad Shiite shrine kills 7
Bomb kills 7 near Baghdad Shi'ite shrine: police
| International
|
Twelve hurt in WBank settlers' rampage
Two-time space tourist returns to Earth
Savvy young heirs give Mexico drug cartels new face
| International
|
Iraq city placed in lockdown as police hunt bombers
Iran to say mastering final stage of nuclear cycle
| International
|
Japan eyes huge stimulus as trade collapses
Bomb kills 7 near Baghdad Shi'ite shrine
Pakistani Taliban move into new area; drone kills 3
| International
|
Aftershocks slow Italy rescue efforts, toll at 250
Safety team warns of 'catastrophic' wiring in Iraq
Israeli Jews hold rare prayer to bless the sun
Pakistan arrests 5 militants planning attacks
| International
|
US-TECH Summary
US electricity grid hit by cyber attacks: report
Bogus security software growing threat: Microsoft
Fear of viruses could be causing PC attacks: report
Cyberspies penetrate electrical grid: report
| Technology
|
Oman Web trial raises censorship concerns
| Technology
|
Somali pirates hijack carrier with 20 US crew
One dead as shooter hits California retreat
Lawmakers meet Castros, urge end to embargo
Sony nabs international rights to Obama documentary
Iranian president welcomes 'honest' talks with US
Obama back in Washington after international swing
Castro brothers meet US lawmakers seeking talks
China sentences 2 to death for fires in Tibet riot
Philippine police find chopper wreckage, 3 bodies
Thai police says 100,000 join anti-gov't protest
NKorea rally to mark 'historic' rocket launch
Pakistan: 5 dead as Taliban move beyond stronghold
North Korea holds massive pro-rocket rally
China orders new probe into state TV building fire
Police: Thai anti-gov't protest swells to 100,000
NATO soldier killed in southern Afghanistan
New film reflects indie woes
| Entertainment
|
Songwriter retires as head of music rights group
| Entertainment
|
HK's Citic Pacific chairman steps down amid probes
Sony nabs international rights to Obama documentary
| Entertainment
|
Price guidance given on S.Korea bond sale-sources
HK's Citic Pacific chairman steps down amid probe
New Zealand house prices fall further in March
Dollar drops back below 100 yen
China: NKorea should not be focus of Asian summit
China shares fall on worries about economy
Thai central bank cuts interest rate to 5-year low
Taiwan dollar logs steepest fall in almost 2 months
Asia Crude-Taiwan CPC buys May Malampaya condensate
Indonesia gets ready for parliamentary elections
Leno gives free show for unemployed in Michigan
Sony nabs international rights to Obama documentary
Last Aztec emperor in spotlight at British Museum
Testimony ends in Castroneves tax trial in Miami
Blair urges Catholic Church homosexuality rethink
Drama `Southland' puts L.A. police in spotlight
Songwriter retires as head of music rights group
Soyuz capsule back on Earth with space tourist
Jackman 'heartbroken' over leaked superhero film
Hugh Jackman heartbroken over 'Wolverine' leak
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