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Greenback Moves Higher After Japanese Official Says G20 to Back USD

The U.S. Dollar is mostly stronger on Friday after a Japanese Finance Ministry Official said the G20 would likely not question moving away from the U.S. dollar as the world's reserve currency.According to Reuters, a senior Japanese Finance Ministry official said he does not expect the G20 to discuss abandoning the USD in favour of a new reserve currency.Traders and media alike are divided over whether the recent 21% gain in the Dow Jones Industrial Average from

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Yen Slides After Weak Data and Downbeat Commentary from Lawmakers

The Japanese yen is weaker on Monday after a larger-than-expected current account deficit and some downbeat commentary from lawmakers over the weekend.The Japanese January current account fell into deficit at ¥172.8 billion versus an expected shortfall of ¥15.3 billion and follows December's ¥125.4 billion surplus. This is the first deficit since 1996.Japanese Finance Minister Kaoru Yosano told lawmakers on Monday that public debt could top ¥1,000 trillion by the end of the 2009 fiscal year.Japanese Vice-Finance Minister

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Onset of Recession Was a "Panic", Says Fed's Warsh

Although onset of the recession in 2008 and 2009 could be considered a panic, the pace of deterioration in the U.S. economy is likely to abate further, according to Fed Governor Kevin Warsh speaking in Washington, D.C on Monday.The current financial and economic turmoil is marked by indicia of both recession and panic conditions, said the central banker, citing a sharp deterioration in confidence, housing market values, and economic growth coupled with soaring inflation.Warsh also argued that

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Japanese Yen Stronger After Comments From BOJ Governor

The Japanese Yen is stronger across the board on Tuesday after comments from Bank of Japan Governor Shirakawa, who talked down early recovery signs in the global economy.Speaking to lawmakers in Tokyo on Tuesday, Shirakawa said that although there are some early signals that the decline in Japanese exports appears to be slowing, economic conditions in the island nation are expected to continue worsening.His comments came shortly after those from Japanese Finance Minister Kaoru Yosano, who told

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Greenback Moves Higher After Japanese Official Says G20 to Back USD

The U.S. Dollar is mostly stronger on Friday after a Japanese Finance Ministry Official said the G20 would likely not question moving away from the U.S. dollar as the world's reserve currency.According to Reuters, a senior Japanese Finance Ministry official said he does not expect the G20 to discuss abandoning the USD in favour of a new reserve currency.Traders and media alike are divided over whether the recent 21% gain in the Dow Jones Industrial Average from

currency rqte japanese dollar - japanese currency to a dollar - recent japanese yen 2009

ECB's Weber Says German Economy Won't Recover Before 2010

European Central Bank council member Axel Weber said Wednesday that he does not take too much stock from the so-called green shoots in economic indicators, and that the German economy will severely contract in 2009.The German economy is in a severe recession, he said.Economic growth isn't possible before 2010, he said, adding that first-quarter growth will be worse than in the fourth quarter, and hard data will continue to be negative. However, he said German politicians should

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Increase in UK Public Spending Sends Sterling Lower

Grim news from the UK government is weighing on sterling Wednesday morning. UK Chancellor of the Exchequer, Alistair Darling, said the government plans to borrow a record £703 billion over the next five years to support the faltering economy.In his budget speech, Darling said he expects the UK economy to contract 3.5% in 2009 and show modest growth of 1.25% in 2010. The government said it would issue £220 billion in gilts in the fiscal year 2009-2010.The

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USD/JPY still eyeing on 97

FXstreet.com (Jakarta) - USD/JPY is still trading eyeing on 97 breaking after bottoming out at 95.7. The Japanese gets use of the unwinding of the carry trades at the times of the risk aversion and mistrust in the holding assets and investing as its very low interest rate levels which reside currently at just .1%.The pair can get back soon over this level with improving the market sentiment. ?By God's will, we wait tomorrow for the Japanese session for the

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Yen Modestly Higher After Slow Day for Data and News

The Japanese yen is modestly higher on Wednesday on the backdrop of a quiet day in terms of economic data or events.Japanese equities followed a decline in U.S. markets on Tuesday, after a weaker-than-expected retail sales report. The Japanese Nikkei closed down 100 points to 8743 and the Hang Seng Index up 89 points to 15670. Record declines in Japanese industrial production for February were largely unrevised on Wednesday according to the Ministry of the Economy, Trade

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Yen Higher After Downbeat Assessments from Finance Ministry

The Japanese yen is stronger on Wednesday after comments from the Finance Ministry highlighting ongoing deterioration in the country's economy.In its quarterly report, the Japanese Finance Ministry said regional economies are deteriorating and it's getting worse.The Japanese adjusted March trade deficit widened to ¥97.1 billion despite expectations for a ¥250.7 billion deficit and previous ¥71.7 billion deficit. Exports were down 45.6% on the year.A Japanese Finance Ministry Official said the country's stimulus plans would be outlined to

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