against the euro before U.S. data today forecast to show industrial
production rose and confidence among homebuilders increased, reducing
demand for safer assets.
The yen also held a drop versus the 17-nation currency after Spanish
and Greek borrowing costs fell at auctions yesterday, damping concern
the euro region's most-indebted members will struggle to fund
deficits. Greek Prime Minister Lucas Papademos will meet with a group
representing private bondholders today to discuss forgiving at least
half of the nation's debt. Portugal is scheduled to sell bills today.
"The U.S. economy is showing signs of recovery," said Thomas Averill,
managing director in Sydney at Rochford Capital, a currency and
interest-rate risk-management company. Haven currencies including the
yen and the dollar "will come under a bit more pressure" over the next
12 months, he said.
Read full at: http://www.businessweek.com/news/2012-01-17/dollar-yen-hold-losses-versus-euro-amid-signs-of-u-s-recovery.html
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