Australia, New Zealand Dollars Decline as Carry Trades Cut on Stock Slide

(Bloomberg) -- The Australian and New Zealand
dollars fell a second day against the yen as global stocks slid
on concern U.S. mortgage losses will worsen, deterring investors
from buying higher-yielding assets funded by loans in Japan.

New Zealand's dollar has weakened 7.5 percent versus the
yen in the past month, the most among the 16 most-active
currencies, and Australia's retreated 5 percent, as traders
pared positions in so-called carry trades. Asian shares declined
today after The Standard & Poor's 500 Index fell the most in
five months in New York on Aug. 3.


Read more at Bloomberg Currencies News

Dollar, kiwi fall vs yen on credit worries

(Reuters) - The dollar tumbled to a four-month low against the yen while the New Zealand dollar fell sharply versus the Japanese currency on Monday as worries about a credit crunch prompted an unwinding of risky carry trades.

The dollar fell to 117.19 yen on electronic trading platform EBS, its lowest level since late March, due partly to stop-loss position unwinding by Japanese retail investors.


Read more at Reuters Africa

Japan's Shares Drop on U.S. Concern, Strong Yen; Toyota Advances on Profit

(Bloomberg) -- Japanese stocks declined, paced by
exporters, on concern losses in the U.S. mortgage market may slow
the world's biggest economy and after the yen strengthened to a
four-month high against the dollar.

Sony Corp., the word's biggest video-game maker, fell the
most in almost five months and Canon Inc. dropped 3.2 percent.


Read more at Bloomberg Stocks News

Japanese Stocks May Drop, Led by Exporters on U.S. Economy Concern, Yen

(Bloomberg) -- Japanese stocks may decline, led by
exporters such as Sony Corp., on concern losses in the U.S.
mortgage market may slow the world's biggest economy.

Exporters may also decline after the yen strengthened to a
four-month high against the dollar, eroding the value of their
dollar-denominated sales.


Read more at Bloomberg Stocks News

Canada's Dollar Falls on Credit Fears Impact on Commodity Currencies

(Bloomberg) -- Canada's dollar fell for the first
time in four days as investors sold currencies tied to commodity
exports on concerns U.S. subprime credit losses will spread,
slowing the global economy.

The Canadian and New Zealand dollars were the worst
performers against the U.S. dollar and Japanese yen among the 16
most actively traded currencies today.


Read more at Bloomberg Currencies News

Bridgestone, Clarion, Isuzu, Komatsu, Shinsei Bank: Japan Equity Preview

(Bloomberg) -- The following stocks may move in
Japanese markets. Prices are as of the close of trading.
Statements were released after the close. Stock symbols are in
parentheses.

Bridgestone Corp. (5108 JT): The world's largest tiremaker
raised its annual unconsolidated profit forecast for the second
time because of a weaker yen. Net income may total 77 billion yen
($648 million) for the 12 months ending Dec. 31, compared with a
previous estimate of 73 billion yen, Bridgestone said in a
release. It also raised its unconsolidated sales forecast for
this year by 1 percent to 1.03 trillion yen and its operating
profit forecast by 10 percent to 108 billion yen. The stock fell
25 yen, or 1 percent, to 2,490.


Read more at Bloomberg Stocks News

Yen Declines From Three-Month High Against Euro as Japanese Stocks Rebound

(Bloomberg) -- The yen fell from a three-month high
against the euro as a recovery in Japanese stock prices eased
concern traders will reduce investments in riskier assets funded
by loans in the currency.

``The rebound in Asian stocks is helping to restore some
risk appetite,'' said Lee Wai Tuck, currency strategist at
Forecast Singapore Ltd. ``This is causing some yen selling.''


Read more at Bloomberg Currencies News

Pound May Decline for Fourth Day Before Bank of England Mortgage Report

(Bloomberg) -- The pound may decline against the
dollar before a report that will probably add to evidence the
housing market is slowing after five interest-rate increases in a
year.

The currency may fall for a fourth day from near a 26-year
high versus the dollar before the Bank of England's mortgage
lending report, which is forecast to show approvals of loans for
home purchases dropped. The pound last week had its biggest
weekly decline against the yen since March as concern U.S.
subprime mortgage defaults will hamper global growth prompted
investors to sell higher-yielding assets.


Read more at Bloomberg Currencies News

Japan's Nikkei 225 Drops on Subprime Concerns; Topix Climbs on Earnings

(Bloomberg) -- Japan's Nikkei 225 Stock Average
dropped after U.S. residential investment slumped, raising
concern the world's largest economy will slow.

Canon Inc. slid 2.6 percent, leading exporters lower after
the yen advanced to the highest against the dollar in more than
three months, reducing the value of their overseas sales.


Read more at Bloomberg Stocks News

Yen Advances to Three-Month High Versus Euro on Reduced Appetite for Risk

(Bloomberg) -- The yen climbed to a three-month
high against the euro on speculation a defeat for Japan's Prime
Minister Shinzo Abe's led ruling coalition will push down stocks
and spur investors to exit so-called carry trades.

The yen reached 160.67 against the euro, the highest since
April 24, before trading at 161.02 at 7:46 a.m. in Tokyo from
161.67 late in New York yesterday. It also rose to 118.26 per
dollar from 118.63, after climbing to 118.03.


Read more at Bloomberg Currencies News

Volatility on Major, Emerging Market Currency Options Rise Amid Aversion

(Bloomberg) -- Volatility on major and emerging-
market currencies options rose as investors shunned riskier
assets amid concern subprime mortgage defaults may rise.

Demand for options granting the right to sell high-yielding
currencies soared as traders bought protection against further
yen appreciation while investors exited so-called carry trades.
The strategy involves borrowing where interest rates are low,
such as in Japan with an 0.5 percent rate, and investing in
countries such as Australia where the benchmark is 6.25 percent.


Read more at Bloomberg Currencies News

Rubber Falls as Yen Advances Against U.S. Dollar, China Imports Decline

(Bloomberg) -- Rubber futures in Tokyo fell for the
first day in four as the yen strengthened to its highest in more
than six weeks against the dollar and China reported imports of
the commodity declined last month.

A gain in Japan's currency damps the value of yen-
denominated contracts for commodities such as rubber, which
trades globally in dollars. China's natural rubber imports
dropped 1 percent in June to 118,417 metric tons from a year ago,
the Beijing-based Customs General Administration said today.


Read more at Bloomberg Commodities News

Rubber Falls as Yen Advances Against Dollar, China's Imports Fall in June

(Bloomberg) -- Rubber futures in Tokyo fell for a
first day in four as the yen strengthened to a one-month high
against the dollar and China reported imports of the commodity
declined last month.

A gain in Japan's currency damps the value of yen-
denominated contracts for commodities such as rubber, which
trades globally in dollars. China's natural rubber imports
dropped 1 percent in June to 118,417 metric tons from a year ago,
the Beijing-based Customs General Administration said today.


Read more at Bloomberg Commodities News

Dollar falls to record low vs euro

(Reuters) - The yen seesawed, sliding broadly in early Asian trading and hitting record lows against the euro in a move that traders attributed to speculative buying of sterling against the yen.




But the Japanese currency later rebounded to hit a six-week peak against the dollar of 120.80 yen on electronic trading platform EBS, the yen's highest level since early June.


Read more at Reuters.com Hot Stocks News

Yen Drops on Bets Japan's Ruling Coalition to Lose Upper House Elections

(Bloomberg) -- The yen dropped to a record low
against the euro after the Nikkei newspaper reported yesterday
Japan's coalition may lose its majority in upper house elections
on July 29, citing a poll it conducted.

The yen was at 168.12 per euro at 7:17 a.m. in Tokyo and
earlier reached 168.99, the lowest ever. It was at 167.61 per
euro late in New York July 20. Japan's currency traded at 121.49
per dollar from 121.27 last week.


Read more at Bloomberg Currencies News

Resona, Toyota, Idemitsu, Cabin, Japan Steel Works; Japan's Equity Preview

(Bloomberg) -- The following stocks may move in
Japanese markets on July 23. Prices are as of the close of
trading. Statements were released after the close. Stock symbols
are in parentheses.

Toyota Motor Corp. (7203 JT): Japan's biggest automaker told
Bloomberg News it will decide July 23 a schedule for restarting
production at domestic auto plants shut down for lack of parts
after a July 16 earthquake. Toyota may restart production as
early as July 24 using piston rings in inventory if Riken Corp.,
a supplier damaged in the earthquake, can repair its factories on
schedule, the Yomiuri newspaper reported July 22. Toyota's shares
rose 20 yen, or 0.3 percent, to 7,560.


Read more at Bloomberg Stocks News

Japan state pension to cut corp bond buying -Nikkei

(Reuters) - The Nikkei said the GPIF, which manages about 82 trillion
yen of bonds and stocks, is likely to keep
corporate bond holdings at about 3 trillion to 4 trillion yen.




The GPIF intends to replace maturing corporate debt, which
means purchases would total about 400 billion yen a year -- less
than half the current amount, the report said this weekend.


Read more at Reuters.com Bonds News

Yen Erases Declines Versus Euro, Dollar as Stock Futures Signal Lower Open

(Bloomberg) -- The yen erased a decline versus the
euro and dollar as futures on U.S. stock indexes fell, a sign
investors are pulling back from risky bets.

Investors who are less inclined to take risks may exit so-
called carry trades, where they borrow at Japan's low interest
rates to buy higher-yielding securities elsewhere. The Japanese
currency also dropped earlier after China raised rates to cool
economic growth, prompting speculation demand for Japanese
exports in its third-largest market will slow.


Read more at Bloomberg Currencies News

Vietnam Hires Barclays, Citigroup, Deutsche Bank for $1 Billion Bond Sale

(Bloomberg) -- Vietnam chose Barclays Capital,
Citigroup Inc. and Deutsche Bank AG to manage its second
international bond sale, said Nguyen Thanh Do, director of the
finance ministry's external financing department.

The ministry said in May that the government plans a $1
billion bond sale by September. Vietnam sold $750 million worth
of dollar-denominated debt in 2005, in an offering where demand
exceeded supply by six times. Credit Suisse Group arranged the
sale.


Read more at Bloomberg Bonds News

Gold May Advance in London as Dollar Trades Near Record Low; Silver Gains

(Bloomberg) -- Gold may rise in London on
speculation the dollar will decline further, spurring demand
for the metal as an alternative investment. Silver gained.

Gold has more than doubled since 2000 as the dollar
declined more than a quarter against a basket of six currencies
including the euro and yen. Gold has gained 5.7 percent this
year and the dollar has declined 4.5 percent against the euro.


Read more at Bloomberg Commodities News