10 April 2001, 16:37 DLR-YEN NEAR LOWS; EURO-DLR DOWN; EMU SHORT END UP; STOCKS UP
Dollar-yen is trading near session lows in European midday trade after
Japanese Finance Minister Miyazawa said there was no intention to push
the yen lower, which started a decline in the pair from Y125.40/50 in
Asia. Meanwhile, euro-dollar also moved lower after running into
European bank sell- orders from $0.8990.
--US Treasuries fell in Europe as equities rose sharply, traders
said. Yields on the 2-year and 5-year notes rose 2 basis points to 4.11%
and 4.51%, respectively, while the yields on the 10-year and 30-year
bonds increased by 3 basis points to 4.95% and 5.53%, respectively.
Short-dated eurozone bonds were firmer as Germany's six leading economic
institutes cut their growth forecasts and fuelled hopes for an ECB
interest rate cut tomorrow.
--European equities were higher. the FTSE-100 was up nearly 2% at
5772, the Xetra Dax was up 1.8% and the CAC-40 was up 2.3%. Most Asian
markets were weaker. The Nikkei 225 closed 1.7% lower, Taiwan down 0.9%,
South Korea down 1.3%, but the Hang Seng up 0.1%.
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