Currencies

Yen Falls Toward Two-Week Low Versus New Zealand's Dollar on Asia Recovery The yen dropped toward a two-week low against New Zealand’s dollar on speculation Japan’s economic recovery will lag behind the rest of the Asia-Pacific region, spurring demand for higher-yielding assets.

Dollar Favorite Currency of Hedge Fund Managers, Real Second, Survey Says The U.S. dollar is the favorite currency of hedge-fund managers, with the Brazilian real a “distant second,” according to a survey by TrimTabs Investment Research and BarclayHedge.

Canadian Dollar Gains for Eighth Consecutive Session on Outlook for Growth Canada’s dollar rose for an eighth consecutive day, its longest streak in five and a half years, as gains in stocks and persistent strength in commodity prices drove investors into currencies tied to economic growth.

Employers See Little Change in U.S. Second-Quarter Payrolls, Survey Shows The number of U.S. employers planning to keep staffing levels unchanged held at a record high for a second consecutive quarter, signaling sustained job creation will take time as the economy recovers, a private survey showed.

Dollar May Reach 8-Week High Versus Yen, Forecast Says: Technical Analysis The dollar may rise to an eight-week high of 92.30 yen after at least two gauges of daily momentum became positive, Forecast Pte said, citing trading patterns.

Chilean Peso Declines, Snaps Post-Quake Climb as Price of Copper Slumps Chile’s peso slid for the first time in six days as a drop in copper curbed a rally that had been fueled by speculation the government will repatriate overseas savings to fund reconstruction after last month’s earthquake.

Dollar to Rise Versus Yen on Household Jobs Recovery, Bank of Tokyo Says The dollar will gain against the yen as U.S. employment recovers, repeating a pattern seen after the 2001 recession when a recovering U.S. economy drove hiring by smaller companies, says Bank of Tokyo-Mitsubishi UFJ Ltd.

Papandreou Says Obama Is `Supportive' of Measures to Stem Deficit Crisis Greek Prime Minister George Papandreou said U.S. President Barack Obama expressed support for measures being taken to deal with Greece’s financial crisis.

Posen Says Bank of England Hopes Bond Plan Has `Done it' as Economy Grows Bank of England officials are counting on their 200 billion-pound ($300 billion) bond-purchase program to have succeeded in restoring the economy to growth, policy maker Adam Posen said.

Romania's Rating Outlook Raised to Stable at S&P on Budgetary Commitment Romania’s credit rating outlook was raised to stable at Standard & Poor’s after the government showed its commitment to fulfilling the budgetary terms of an international bailout.

South Africa, Uganda, Zambia: Sub-Saharan Local Bond and Currency Preview The following events and economic reports may influence trading in sub-Saharan African bonds and currencies today. Bond yields and exchange rates are from the previous session.