Currencies

Yen Rises as Fitch Greece Outlook Damps Demand for Higher-Yielding Assets The yen rose against all of its most-traded counterparts as demand for higher-yielding assets ebbed after Fitch Ratings said implementation of Greece’s deficit-cutting plans can’t be taken for granted.

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.

Yuan Faces Pressure for Appreciation on China's Interest-Rate Gap, Yi Says The yuan is facing increased pressure to appreciate as a widening interest-rate differential spurs inflows of funds through "underground money shops," China’s top currency regulator said.

Canadian Dollar Trades Near Strongest Level in Seven Weeks on Commodities Canada’s dollar traded near the strongest level in seven weeks as 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 slump in copper, the country’s biggest export, curbed a rally that was fueled by speculation the government would repatriate overseas savings to fund reconstruction after last month’s earthquake.

Buy Mexican Peso, Government Bonds `on Dips' Amid Yield Search, RBS Says Investors should buy Mexico’s peso and government bonds should their values decline, RBS Securities Inc. said.

Pound's Slide to Help U.K. Outpace Euro Economies, Goldman's Nielsen Says The pound’s drop last week to a 10- month low may help the U.K. economy grow faster than the region sharing the euro, which is hobbled by budget deficits and aging populations, according to Goldman Sachs Group Inc.

U.K. Pound Drops on Waning Housing Recovery, Fitch Budget Deficit Concern The pound fell, approaching the lowest level against the dollar in 10 months, as a report showed the U.K. housing recovery may be flagging and Fitch Ratings said Britain’s government needs to accelerate budget cuts.

Barker Sees `Grounds for Optimism' on Britain's Recovery as Risks Diminish Bank of England policy maker Kate Barker said she is optimistic that the U.K. economy is recovering and that it faces fewer threats than before.

U.K. Treasury Minister Myners Says Banks Haven't Learned Lesson From Crash U.K. Treasury Minister Paul Myners said banks haven’t learned their lessons from the credit crunch, arguing market discipline must go hand-in-hand with government action to restore public faith in financial institutions.