Currencies

Yen Depreciates Against Higher-Yielding Currencies as Chinese Exports Rise The yen declined against all of its major counterparts after a report showed that Chinese exports rose the most in three years, renewing investor demand for higher-yielding assets.

Bank of America Cuts Yen Forecast, Citing Kan's `Resolve' to Temper Gains Bank of America-Merrill Lynch cut its forecasts for the yen, saying Japanese Finance Minister Naoto Kan has a “stronger resolve” to temper gains in the currency than did his predecessor.

Dollar Optimism Soars to Highest Since 2008 as Economic Outlook Rebound Investors are the most bullish on the dollar since the collapse of Lehman Brothers Holdings Inc. on speculation the U.S. economy will expand at a faster pace than in Europe and Japan, a survey of Bloomberg users showed.

Hedge-Fund Losses Show Drop in Euro Fails to Benefit All Currency Traders Hedge funds that trade currencies are taking hits from politicians casting them as speculators out to sink the euro and push Greece into insolvency. They are also losing money.

Chilean Peso Falls for a Second Day; Swap Yields Drop on Inflation Bets Chile’s peso fell for a second day on speculation the government may finance part of the reconstruction after last month’s earthquake with local bond sales and amid declines in copper, the nation’s biggest export.

Equity Correlation May Break Canadian Dollar's Range: Technical Analysis The Canadian currency may make a sustained break out of a five-month trading range against its U.S. counterpart if stocks close above highs set in January, said Royal Bank of Canada, the nation’s biggest lender.

Canadian Currency Gains for Ninth Consecutive Day on Outlook for Growth Canada’s dollar rose for a ninth day against its U.S. counterpart, the longest streak in five and a half years, as investors bet the nation’s economy will be among the strongest during the recovery.

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

Pound Weakens Versus Dollar and Euro After U.K. Manufacturing Contracts The pound weakened for a third straight day versus the dollar and the euro, nearing the lowest level against the U.S. currency in 10 months, as a report showed U.K. manufacturing unexpectedly contracted.

Standard Bank Advises Buying Swiss Franc Versus Yen; Bet on Rise to 86.30 Standard Bank Plc advised buying the Swiss franc against the Japanese yen, estimating the currency will appreciate to 86.30 yen.

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 International Monetary Fund resumed a bailout loan to the country and the government passed an austerity budget.