AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.20 Increased By ▲ 0.16 (0.13%)
BOP 6.62 Decreased By ▼ -0.05 (-0.75%)
CNERGY 4.48 Decreased By ▼ -0.03 (-0.67%)
DCL 8.58 Increased By ▲ 0.03 (0.35%)
DFML 41.72 Increased By ▲ 0.28 (0.68%)
DGKC 87.40 Increased By ▲ 0.55 (0.63%)
FCCL 32.35 Increased By ▲ 0.07 (0.22%)
FFBL 64.99 Increased By ▲ 0.19 (0.29%)
FFL 10.23 Decreased By ▼ -0.02 (-0.2%)
HUBC 109.49 Decreased By ▼ -0.08 (-0.07%)
HUMNL 14.70 Increased By ▲ 0.02 (0.14%)
KEL 5.08 Increased By ▲ 0.03 (0.59%)
KOSM 7.61 Increased By ▲ 0.15 (2.01%)
MLCF 41.40 Increased By ▲ 0.02 (0.05%)
NBP 59.50 Decreased By ▼ -0.91 (-1.51%)
OGDC 192.40 Increased By ▲ 2.30 (1.21%)
PAEL 28.15 Increased By ▲ 0.32 (1.15%)
PIBTL 7.78 Decreased By ▼ -0.05 (-0.64%)
PPL 151.26 Increased By ▲ 1.20 (0.8%)
PRL 26.35 Decreased By ▼ -0.53 (-1.97%)
PTC 16.15 Increased By ▲ 0.08 (0.5%)
SEARL 83.50 Decreased By ▼ -2.50 (-2.91%)
TELE 7.79 Increased By ▲ 0.08 (1.04%)
TOMCL 35.48 Increased By ▲ 0.07 (0.2%)
TPLP 8.10 Decreased By ▼ -0.02 (-0.25%)
TREET 16.05 Decreased By ▼ -0.36 (-2.19%)
TRG 53.15 Decreased By ▼ -0.14 (-0.26%)
UNITY 26.29 Increased By ▲ 0.13 (0.5%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,985 Increased By 101.4 (1.03%)
BR30 31,147 Increased By 547.3 (1.79%)
KSE100 94,188 Increased By 832.7 (0.89%)
KSE30 29,173 Increased By 241.9 (0.84%)

The yen hit a record low versus the euro and held near 4-1/2 year troughs against the dollar on Monday, staying under pressure after the Bank of Japan chief last week all but ruled out an interest rate rise in July.
Investors' broad hunt for yield was reflected in the Swiss franc - also a relatively low-yielding unit among major currencies - also sliding to fresh record lows against the euro.
The New Zealand dollar stayed firm despite suspected fresh central bank intervention aimed at keeping a lid on the strength of the currency which has surged on the back of the highest interest rates in the industrialised world at 8 percent.
The Reserve Bank of New Zealand entered the market a week ago to knock the kiwi off 22-year peaks versus the US dollar. Risk appetite was supported by gains in global equities. In currency markets this boosted demand for carry trade investments funded by borrowing in low-yielders like the yen and Swiss franc.
"The focus is on the carry trade," said Antje Praefcke, currency strategist at Commerzbank Corporates and Markets in Frankfurt. "With (BOJ Governor Toshihiko) Fukui signalling no rate hikes until consumption is more robust and the SNB saying that rates are neutral, rate differentials will keep the yen and Swiss franc under pressure."
The euro rose to a record high of 165.63 yen, according to Reuters data, before trimming gains to stand at 165.52 yen at 1133 GMT. The yen also hit 15-year lows against sterling, 16-year lows versus the Australian dollar and 20-year troughs versus the New Zealand dollar. The Swiss franc, which has the second lowest interest rates in the G10, hit a record low of 1.6635 per euro on Monday.

Copyright Reuters, 2007

Comments

Comments are closed.