Market News

The Japanese Yen edged lower off the 1-week peak struck overnight in Asia while the Euro steadied on U.S. policymakers’ comments which renewed investors hopes that the fiscal cliff might be avoided.

The Euro gave up recent gains against the U.S. Dollar during the Asian trading session as investors now take the opportunity to reconsider the effects of Greece’s new target debt plan.

The Euro touched briefly on a 1-month peak against the U.S. Dollar during the Asian trading session earlier today on news that international lenders have agreed that Greece will be permitted a new debt target.

Investors are confident that the European Union’s policymakers won’t allow Greece to go default and as a result had pushed the common currency Euro to a 1-month peak against the U.S. Dollar as well as a 7-month high versus the Japanese Yen.

The Japanese Yen edged up against the greenback during the Asian trading session today, finally getting some respite after its sharp 2-week drop on expectations of a new Japanese government’s potentially aggressive monetary easing.

In Asia, the Euro struck a multi-months peak against the Japanese Yen on support that the Greek loan deal might soon be unconditionally approved.

The Japanese Yen slipped to a 7½ month low versus the U.S. Dollar during the Asian trading session today, with a similar fall against the common currency Euro, as investors speculate that an incoming Japanese government will aggressively push for a softer Japanese currency to lift the economy.

The Euro edged close to a 2-week peak against the greenback during the Asian trading session on Tuesday, as risk appetite got a boost from optimistic investors expecting that the Greek government will receive its next bailout tranche soon.

Earlier in the Asian trading session, the Japanese Yen struck a 7-month trough against the U.S. Dollar on investors’ expectations that the central government will cede to wishes by the new Japanese government to even more aggressively loosen their monetary policy in order to provide a lift to the Japanese economy.

The Japanese Yen recovered during the Asian trading session following a plunge to a 6-month plus low versus the U.S. Dollar on Thursday.

The Euro continues to hover close to a 2-month trough against the U.S. Dollar, but at least was able to stop a 5-day long losing streak.

The Euro again held just off a 2-month low against the greenback in Asian trading, kept there by growing uncertainty over the situation in Greece and whether or not the Troika will agree to disburse their next bailout loan payment.

Earlier during the Asian trading session, the Euro fell to a 2-month trough against the U.S. Dollar as doubts about the disbursement of Greece’s next bailout loan escalated following the failure of the E.U.

During the Asian trading session the common currency held just above a 2-month low against the U.S. Dollar following the news that the Greek Parliament had gotten approval for the 2013 budget.

During the Asian trading session, the Euro slumped very close to a 2-month low against the greenback as the outlook for the Eurozone continues to deteriorate.