AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

The dollar rose against the yen on Tuesday to its highest level in 11 days as traders grew nervous about possible intervention by the Bank of Japan.
Some traders said the spike could have been due to yen-selling intervention by the BoJ, while others said it was likely due to options-related buying or the yen's fall against other currencies.
"The move was a suspicious one and could have been intervention, but I am just not sure," said a trader at a major Japanese bank.
Last month, Japan spent a record seven trillion yen ($66.38 billion) in intervention.
The greenback jumped a quarter of a yen to 106.02 yen, its highest since February 6.
It was at 105.81/86 yen compared with 105.42/52 in late European trade. US markets were closed on Monday for Presidents Day.
The euro was trading at $1.2767/72 little changed on the day.
Sterling jumped over one yen to a five-year high around 200.20 yen, while the euro hit a high of 135.31 yen.
Although the dollar fell to 3-1/2 year lows around 105.15 yen last week, traders were getting hesitant about re-testing those troughs on the view that the Japanese authorities were determined to defend the 105 yen level.
"The lower end of the ranges have been so difficult to break, and people are having to wonder what they would have to do if they built up short dollar positions here," said Hiroyuki Watanabe, a foreign exchange manager at Shinsei Bank.
Japanese Finance Minister Sadakazu Tanigaki reiterated on Tuesday that intervention was aimed at curbing speculative movements in the market.
Some traders said the BoJ may have stepped in on Tuesday to push up the dollar ahead of Japan's October-December gross domestic product data due on Wednesday.
"If the figure comes out strong, the authorities will lose their justification for intervening, especially after the G7 (Group of Seven) countries said forex should reflect fundamentals," said a senior trader at a Japanese trust bank.
"Thus they may have intervened to push up the dollar beforehand since they are out to protect 105 yen."
The market's consensus is for GDP growth of around five percent on an annualised basis, which would be stronger than the US growth rate of four percent in the same quarter.

Copyright Reuters, 2004

Comments

Comments are closed.