The Japanese yen headed for its largest five-day advance against the US dollar in seven weeks, as investors pursued haven assets despite continuous tension before a referendum that may result to Crimea’s withdrawal from Ukraine.
The Bank of Japan kept record stimulus this week, holding ammunition despite speculation a sales-tax increase in April will harm the economy. Goldman Sachs Group Inc. said another round of easing will propel the yen to a six-year low in the middle of 2014. The New York-based bank reduced its 12-month prediction for the Australian dollar, denoting a frail domestic outlook. The euro receded from a two-year peak following the European Central Bank implied it was watching gains in the currency.
The yen settled at ¥101.82 per dollar as of 10:45 a.m. in Tokyo, previously ¥101.84. It was set for a 1.4% percent weekly profit, the largest for five days until January 24. It ascended 0.1% to ¥141.13 per euro and increased 1.6% since March 7.
Europe’s shared currency missed 0.1% to $1.3861 from yesterday, when it hit $1.3967, the most since October 2011.
More Pressure
The MSCI Asia Pacific Index of shares tumbled 3.3% this week, slated for the largest decrease since June. The MSCI World Index of developed equities dropped 2.1% since March 7. The U.S. and Germany hyped pressure on Russia to retreat from plans to adjoin Crimea. “If there is no sign of any capacity to be able to move forward and resolve this issue, there will be a very serious series of steps on Monday in Europe and here with respect to the options that are available to us,” US Secretary of State John Kerry said to a Senate body in Washington yesterday.
German Chancellor Angela Merkel said Russia is jeopardizing huge political and economic detriment. In its official statement last March 11, the BOJ said it would keep its vow to extend Japan’s monetary base at a pace of ¥60 trillion (or $589 billion) to ¥70 trillion per year.
The material has been provided by InstaForex Company – www.instaforex.com
The Japanese yen headed for its largest five-day advance against the US dollar in seven weeks, as investors pursued haven assets despite continuous tension before a referendum that may result to Crimea’s withdrawal from Ukraine.
The Bank of Japan kept record stimulus this week, holding ammunition despite speculation a sales-tax increase in April will harm the economy. Goldman Sachs Group Inc. said another round of easing will propel the yen to a six-year low in the middle of 2014. The New York-based bank reduced its 12-month prediction for the Australian dollar, denoting a frail domestic outlook. The euro receded from a two-year peak following the European Central Bank implied it was watching gains in the currency.
The yen settled at ¥101.82 per dollar as of 10:45 a.m. in Tokyo, previously ¥101.84. It was set for a 1.4% percent weekly profit, the largest for five days until January 24. It ascended 0.1% to ¥141.13 per euro and increased 1.6% since March 7.
Europe’s shared currency missed 0.1% to $1.3861 from yesterday, when it hit $1.3967, the most since October 2011.
More Pressure
The MSCI Asia Pacific Index of shares tumbled 3.3% this week, slated for the largest decrease since June. The MSCI World Index of developed equities dropped 2.1% since March 7. The U.S. and Germany hyped pressure on Russia to retreat from plans to adjoin Crimea. “If there is no sign of any capacity to be able to move forward and resolve this issue, there will be a very serious series of steps on Monday in Europe and here with respect to the options that are available to us,” US Secretary of State John Kerry said to a Senate body in Washington yesterday.
German Chancellor Angela Merkel said Russia is jeopardizing huge political and economic detriment. In its official statement last March 11, the BOJ said it would keep its vow to extend Japan’s monetary base at a pace of ¥60 trillion (or $589 billion) to ¥70 trillion per year.
The material has been provided by InstaForex Company – www.instaforex.com
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