Post by Admin on Aug 6, 2013 9:08:15 GMT 8
06-08-2013 09:05:00
GLOBAL MARKETS-Yen strengthens against dollar, Nikkei falls
* Asian shares dip, could post first loss in four days
* Dollar extends losses against yen, Nikkei down 0.9 pct
* Australia central bank expected to cut rates at 0430 GMT
By Dominic Lau
TOKYO, Aug 6 (Reuters) - The dollar extended losses against
the yen into a third day on Tuesday as markets questioned their
expectations the U.S. Federal Reserve would start scaling back
its stimulus as soon as next month, putting Japanese shares on
the defensive.
The Australian dollar was near three-year lows ahead of an
expected cut in official rates to a record low of 2.5 percent.
The dollar slipped 0.2 percent to 98.050 yen after the
previous session's 0.7 percent decline, its biggest one-day fall
in a week. Against a basket of major currencies, the dollar
<.DXY> dipped 0.1 percent.
The dollar has weakened since Friday after a soft jobs
report saw markets temper expectations the Fed could start
scaling back its $85 billion-a-month bond-buying programme in
September, although a survey showing a pick-up in the U.S.
services sector helped limit the losses.
Sterling rose to one-week highs after an industry
survey gave hope the UK economy was recovering, before easing to
$1.5356 in early Asian trade. [ID:nL6N0G61WS]
The Australian dollar was down 0.2 percent at
$0.8917 ahead of the Reserve Bank of Australia's rate decision,
due at 0430 GMT. . It fell to 3-year lows below 89 U.S.
cents on Monday.[ID:nL4N0G63WC]
"We may see a sharper selloff in the AUD/USD should the RBA
keep the door open to further rate cuts in the coming months,"
said David Song, currency analyst at DailyFX.
ASIA SHARES DIP
Asian shares measured by MSCI Asia-Pacific ex-Japan
<.MIAPJ0000PUS> eased 0.1 percent. Should the index end the day
in the red, it would snap a three-day winning streak.
In Tokyo, the Nikkei share average <.N225> shed 0.9 percent
on the back of the firmer yen, which lowers income for exporters
such as carmakers.
Of the 133 Nikkei companies that have reported quarterly
earnings so far, 60 percent either beat or met market
expectations, according to Thomson Reuters StarMine. That
compared with 54 percent in the previous quarter.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Asia money and markets: link.reuters.com/var99t
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
In commodity markets, copper was holding below
$7,000 a tonne after easing 0.4 percent on Monday, while gold
edged up 0.2 percent to claw back some of the 0.6 percent
decline in the previous session.
Brent crude prices were little changed at $108.70 a
barrel after dipping 0.3 percent on Monday.
(Additional reporting by Ian Chua in SYDNEY; Editing by John
Mair)
GLOBAL MARKETS-Yen strengthens against dollar, Nikkei falls
* Asian shares dip, could post first loss in four days
* Dollar extends losses against yen, Nikkei down 0.9 pct
* Australia central bank expected to cut rates at 0430 GMT
By Dominic Lau
TOKYO, Aug 6 (Reuters) - The dollar extended losses against
the yen into a third day on Tuesday as markets questioned their
expectations the U.S. Federal Reserve would start scaling back
its stimulus as soon as next month, putting Japanese shares on
the defensive.
The Australian dollar was near three-year lows ahead of an
expected cut in official rates to a record low of 2.5 percent.
The dollar slipped 0.2 percent to 98.050 yen after the
previous session's 0.7 percent decline, its biggest one-day fall
in a week. Against a basket of major currencies, the dollar
<.DXY> dipped 0.1 percent.
The dollar has weakened since Friday after a soft jobs
report saw markets temper expectations the Fed could start
scaling back its $85 billion-a-month bond-buying programme in
September, although a survey showing a pick-up in the U.S.
services sector helped limit the losses.
Sterling rose to one-week highs after an industry
survey gave hope the UK economy was recovering, before easing to
$1.5356 in early Asian trade. [ID:nL6N0G61WS]
The Australian dollar was down 0.2 percent at
$0.8917 ahead of the Reserve Bank of Australia's rate decision,
due at 0430 GMT. . It fell to 3-year lows below 89 U.S.
cents on Monday.[ID:nL4N0G63WC]
"We may see a sharper selloff in the AUD/USD should the RBA
keep the door open to further rate cuts in the coming months,"
said David Song, currency analyst at DailyFX.
ASIA SHARES DIP
Asian shares measured by MSCI Asia-Pacific ex-Japan
<.MIAPJ0000PUS> eased 0.1 percent. Should the index end the day
in the red, it would snap a three-day winning streak.
In Tokyo, the Nikkei share average <.N225> shed 0.9 percent
on the back of the firmer yen, which lowers income for exporters
such as carmakers.
Of the 133 Nikkei companies that have reported quarterly
earnings so far, 60 percent either beat or met market
expectations, according to Thomson Reuters StarMine. That
compared with 54 percent in the previous quarter.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Asia money and markets: link.reuters.com/var99t
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
In commodity markets, copper was holding below
$7,000 a tonne after easing 0.4 percent on Monday, while gold
edged up 0.2 percent to claw back some of the 0.6 percent
decline in the previous session.
Brent crude prices were little changed at $108.70 a
barrel after dipping 0.3 percent on Monday.
(Additional reporting by Ian Chua in SYDNEY; Editing by John
Mair)