Dollar Flat Against Yen in Asia
The dollar was flat against the yen in Asia Tuesday after overnight data showed that U.S. sales of existing homes fell for a fifth consecutive month in August, further indications of a slowdown.
The U.S. dollar was trading at 116.50 yen on the Tokyo foreign exchange market at 3 p.m. (0600 GMT) Tuesday, edging up from 116.48 yen from late Monday in New York. The euro fell to US$1.2750 from US$1.2757.
U.S. investment banks and overseas hedge funds sold the dollar to as low as 116.26 yen in early trading, but aggressive buying interest from Japanese importers helped the dollar to recover some of its losses, dealers said.
More : chron.com
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Around Asia's markets: Exporters swagger as the dollar rebounds
Shares of automakers and technology companies may be among the best performers in Asia this quarter as they reap benefits from a rising U.S. dollar.
"A stronger dollar is going to feed into exporters' earnings, and that's one theme that investors are chasing now," said Isaho Nakasho. He is seeking to add auto shares to the Asian stocks he manages for Fuji Investment Management in Tokyo.
The dollar has risen as much as 4.7 percent this quarter against Asian currencies, including the yen, which fell to a 27-month low against the U.S.
FX Asia: Taiwan Dollar Sets Sight On New 2006 Low
The New Taiwan dollar is increasingly favored in carry trades as low interest rates and heightening political tensions with the Chinese mainland make the currency a cheap funding vehicle for purchases of higher-yielding units such as the Thai baht.
Although the Taiwan dollar is recovering from falls earlier in the week thanks to a resurgent Japanese yen, its longer-term outlook remains grim.
Technical charts, in particular, are pointing to fresh lows ahead for the currency, already facing pressure ahead of Taiwan's Peace Memorial Day on Feb. 28 when some are expecting
Asia surges on profits
Asian stocks surged on Thursday as leading technology companies such as Advantest Corp. posted sturdy quarterly profits, while the dollar extended losses on signs that the U.S. economy was cooling down.
The yen slumped to a record low against the euro on the view that yen interest rates will stay unattractive to investors when compared with dollar or euro rates for many more months.
The dollars overnight decline lifted gold prices by about $6 an ounce to $628, as the dollar-denominated metal became cheaper for Asian and European buyers.
More : edition.cnn.com
Asia Declines Despite Positive Tech Review
NEW YORK (Dow Jones)--American depository receipts fell slightly Friday, with the greatest loss in Asia despite some positive technology news for LCD flat-panel makers.
The Bank of New York index of ADRs fell 0.62 to 131.07. The Latin American index climbed 1.22 to 202.00, the Asian index fell 0.77 to 127.02, and the European index fell 0.70 to 130.82.
An industry review showed LCD flat-panel displays are in stronger demand than originally expected, and two companies that benefited from the positive news were AU Optronics Corp. (AUO), which closed up 6% at $14.19, and LG
Gold in Asia Falls as Dollar Gains on Prospect of Higher Rates
Gold in Asia declined as the U.S. dollar gained the most against the euro in more than two months yesterday, eroding the precious metal's appeal as an alternative investment.
The U.S. currency rose on expectations the Federal Reserve may increase interest rates faster this year than the European Central Bank. Higher rates make holding gold less attractive because the metal has no fixed returns, unlike bonds.
``The hawkish comments coming out of the Fed that they are going to raise interest rates if inflation gets out of control
