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International

Kevin Buckland

Nikkei erases early losses to end flat amid strong earnings

3:25am EDT

TOKYO, Oct 27 Japan's Nikkei share average recovered from early declines to end Wednesday little changed as strong earnings supported the market despite overall caution ahead of a parliamentary election on the weekend.

Nikkei retreats on caution ahead of elections; Canon drops on forecast cut

Oct 26 2021

TOKYO, Oct 27 Japan's Nikkei share average declined on Wednesday, giving up most of the strong gains of the previous session, as investors turned cautious ahead of lower house elections on Sunday that could drain support for the country's new prime minister.

GLOBAL MARKETS-Equities eye third week of gains after tech boost, dollar dips

Oct 22 2021

LONDON/TOKYO, Oct 22 Global shares were on course for their third straight week of gains on Friday, buoyed by tech stocks in Asia overnight, while the dollar dipped and oil prices held steady.

GLOBAL MARKETS-Asia tech shares jump; China property stocks rally on Evergrande payment

Oct 22 2021

* Tech shares follow U.S. peers higher on FAANG earnings optimism

GLOBAL MARKETS-Asian tech shares jump, China property stocks rally as Evergrande makes payment

Oct 21 2021

* Cyclical shares slump as markets price for higher inflation

FOREX-Yen skids to four-year low as stocks rally with Treasury yields

Oct 20 2021

* Rise in 10-year U.S. yields increase allure for Japan investors * Two-year yields drop as traders cut bets for early Fed lift-off * Dollar hurt as other central banks seen outpacing Fed tightening * Safe-haven yen, dollar out of favour amid global equity rally * Aussie, kiwi gain to multi-month peaks; bitcoin near record high By Kevin Buckland TOKYO, Oct 20 U.S. bonds drove currencies on Wednesday, with a rise in long-term rates pushing the dollar to an almost four-year high on the yen, but a decline in shorter-dated yields putting it on the back foot against most other major peers. The dollar and yen were also under pressure from a global equity rally that sapped demand for assets regarded as safe havens. The dollar climbed as high as 114.585 yen for the first time since November 2017, with benchmark 10-year Treasury yields touching a fresh five-month high at 1.6630% in Asia. Higher long-term U.S. yields increase the allure of those assets to Japanese investors. However, two-year Treasury yields hovered around 0.4016% after retreating sharply overnight from Monday's 19-month high of 0.4480%, signalling a scaling back of bets for early Federal Reserve interest rate hikes. That contrasted to a rise this week in bets on faster rate increases in the U.K. and New Zealand, which also pulled up expectations in neighbours like the euro zone and Australia. The risk-sensitive Aussie and New Zealand dollars touched fresh multi-month highs on Wednesday, and cryptocurrency bitcoin hovered close to an all-time high. "Risk sentiment remains in the ascendancy," while "a fall-back in front-end U.S. yields, so symptomatic of a slight paring back in expectations for when Fed rates 'lift-off' might occur," dealt the dollar a double-whammy, Ray Attrill, head of FX strategy at National Australia Bank in Sydney, wrote in a research note. At the same time, markets are coming to "the - highly belated - realisation that whether the Fed raises (its policy) rate in 2022 or not until later, other central banks are getting in ahead of them ... with the Bank of England likely next cab off the rank as early as next month," Attrill said. The dollar index - which measures the greenback versus six rivals, including the yen - slipped 0.12% to 93.698, dropping back toward Tuesday's low at 93.501, the weakest level this month. Just last week it hit a one-year high of 94.563 as traders priced in a tapering of Fed stimulus as soon as next month, followed by rate hikes next year. The U.S. economic outlook got a little less rosy on Tuesday after data showed that U.S. homebuilding unexpectedly fell in September and permits dropped to a one-year low amid acute shortages of raw materials and labour, supporting expectations that economic growth slowed sharply in the third quarter. The euro added 0.15% to $$1.1649 from Tuesday, when it jumped as high as $1.1670 for the first time since Sept. 29. Sterling rose 0.16% to $1.3810 after touching a one-month peak of $1.3834 in the previous session. The Aussie traded 0.31% higher at $0.7500, after touching the highest since July 7 at $0.7505. New Zealand's kiwi dollar climbed 0.32% to $0.7177, and earlier reached $0.7179 for the first time since June 11. Bitcoin weakened slightly to just below $64,000 after touching a six-month high of $64,499 on Tuesday, close to its record peak at $64,895.22. In the equities space, Asia-Pacific stocks extended a global rally on Wednesday, with an index of regional shares adding 0.51%. "The move in equities has seen the USD and JPY shunned," Chris Weston, head of research at brokerage Pepperstone in Melbourne, wrote in a client note. "It's really just pick a JPY cross and see the 'rip your face off' move," he said. "This is a momentum play here and timing the pullback in JPY crosses is key, but it doesn't feel like we're going to see a rush to cover JPY shorts anytime soon in this dynamic." ======================================================== Currency bid prices at 0444 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.1649 $1.1632 +0.15% -4.65% +1.1650 +1.1628 Dollar/Yen 114.5450 114.4000 +0.08% +10.84% +114.6950 +114.4700 Euro/Yen <EURJPY=EB 133.43 133.06 +0.28% +5.13% +133.4400 +133.0200 S> Dollar/Swiss 0.9239 0.9230 +0.12% +4.45% +0.9244 +0.9229 Sterling/Dollar 1.3810 1.3790 +0.16% +1.10% +1.3814 +1.3788 Dollar/Canadian 1.2337 1.2363 -0.20% -3.11% +1.2367 +1.2338 Aussie/Dollar 0.7500 0.7477 +0.31% -2.51% +0.7504 +0.7465 NZ 0.7177 0.7154 +0.32% -0.06% +0.7179 +0.7147 Dollar/Dollar All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Kevin Buckland Editing by Shri Navaratnam)

FOREX-Yen skids to four-year low as stocks rally with Treasury yields

Oct 19 2021

* Rise in 10-year U.S. yields increase allure for Japan investors

FOREX-Dollar down as rate-hike bets elsewhere fuel dash to cover FX shorts

Oct 19 2021

LONDON, Oct 19 The dollar retreated on Tuesday to a three-week low, hit by a proliferation in rate-hike bets in other markets and by improved sentiment that lifted equities and risk-sensitive currencies such as the Australian dollar.

FOREX-Safe-haven dollar sinks as Asian equities rally; Aussie, yuan jump

Oct 19 2021

TOKYO, Oct 19 The safe-haven dollar slid to a three-week low versus major peers on Tuesday amid improved risk sentiment as Asian equities followed U.S. tech shares higher, and on signals China's property market woes will be contained.

FOREX-Dollar softens amid bets other central banks to outpace Fed tightening

Oct 18 2021

TOKYO, Oct 19 The dollar languished near the bottom of its recent range against major peers on Tuesday, knocked back by weak U.S. factory data overnight and on market wagers of faster normalisation of monetary policy in other countries.

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