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Japanese Yen Lower After Japan Promises to Back U.S. Spending Calls

In the aftermath of strong support for U.S. calls on global spending from G20 nations, and a massive rally in U.S. equities spilling into global markets, the Japanese Yen finds itself weaker against major currencies on Friday.USD/Yen is trading up 0.62 points to 98.34 in mid-European trade.A 4.07% rally in U.S. equity markets on Thursday translated into a 5.15% gain in the Japanese Nikkei and a 4.37% pickup in the Hang Seng.Meanwhile Japanese Finance Minister Kaoru

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Yen Mixed as Government Gears Up for Equity Purchases

The Japanese yen is mixed on Wednesday following ongoing strength in global equity markets that was sparked by good news from Citigroup on Tuesday.Global equities ignited after reports that Citigroup CEO Vikram Pandit had released an internal memo suggesting the financial giant was profitable in the first two months of 2009. The ensuing 6.4% rally in the S&P 500 was matched by a 4.55% gain in the Nikkei.In other news, the Japanese government will begin purchasing stocks

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Euro Could Lose More Ground as EU Economy Weakens

(CEP News) - The euro is looking vulnerable on what has been a quiet day in currency markets.Trading on Monday has been thin with U.S. markets closed for the Presidents' Day holiday, and weaker global equities have helped to drag EUR/USD to the bottom of its recent channel. The cross is down 0.95 cents to 1.2766 USD.A key support level for EUR/USD is 1.2760 USD and, according to some strategists, a break through that level could lead to more weakness.Neil

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Rising Equities Helping to Boost the Euro Despite Weaker Employment Data

More negative data and falling inflation in the euro zone is not having much impact on the euro, as currency markets are instead taking their lead from equities.Global equity markets are showing modest gains this morning after Monday's massive selloff. The rising risk appetite is causing the U.S. dollar to weaken off across the board.EUR/USD has managed to retrace all of its losses on Monday, but still remains under important resistance levels of 1.24 USD. The cross

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Asian markets, flat after ?stress test?; Euro, Pound and Yen consolidate

FXstreet.com (Barcelona) ? Asian markets have remained little moved on Friday after U.S. Treasury reported that the 19 largest banks would need $75 billions to be well capitalized, a lower than expected figure. Euro and Pound and Yen have been consolidating during Asian session.Japanese Nikkei index adds 0.2% reversing opening losses, while South Korean Kospi Index trades 0.4% above its opening level, and Australian S&P Index fell 0.7%.Banking shares have been higher today despite rises were narrow in all cases;

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USD/CAD Rising Higher as Banking Concerns Grip Markets

USD/CAD is getting some support from weaker equity markets as banking problems continue to stoke fear sentiment.Weaker North American stocks are providing broad momentum to the U.S. dollar and helping to push USD/CAD closer to the 1.30 CAD marker. The cross is up over a full cent to 1.2884 CAD. The negative sentiment started overnight when the U.S. Treasury released a statement saying it would increase its stake in AIG, allowing the insurance company to draw up to

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Greenback Remains Stronger as Swine Flu Continues to Work Through Markets

The U.S. dollar is broadly stronger on Tuesday, except against the Japanese yen, as the effects of the swine flu continue to work their way through the financial markets on Tuesday.After holding an emergency meeting on Monday, the World Health Organization raised its pandemic threat level on the swine flu from three to four, citing evidence of increased human-to-human transmission. Japan Finance Minister Kaoru Yosano said it is difficult to judge how the swine flu will affect

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Asian markets rise on corporate earnings; Euro and Pound steady at mid-term highs

FXstreet.com (Barcelona) ? Asian markets are going through moderate gains on improved confidence after better than expected corporate earnings forecasts by Olympus and Nissan. Euro and Pound remain steady at high levels, while the Dollar dropped lower against the Yen.Japanese Nikkei Index adds 0.7%, and the Hong Kong Hang Seng Index rose another 0.7%, markets in Australia, New Zealand and India are going through losses.Olympus rose 12% on the back of a company earnings forecast of 40 billion Yen, against

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