Currencies

Yen Declines to Two-Week Low Versus New Zealand's Dollar on Asia Recovery The yen declined to a two-week low against New Zealand’s dollar on speculation Japan’s economic recovery will lag behind the rest of the Asia-Pacific region.

Bank of America Cuts Yen Forecast, Citing Kan's `Resolve' to Temper Gains Bank of America-Merrill Lynch cut its forecasts for the yen, saying Japanese Finance Minister Naoto Kan has a “stronger resolve” to temper gains in the currency than did his predecessor.

Obama Proving Pessimists Wrong as Rebounding Economy Converges With Stocks The political consensus may be that President Barack Obama’s handling of the economy has been weak. The judgment of money in all its forms has been overwhelmingly positive, and that may be the more lasting appraisal.

U.S. 10-Year Note Losing Appeal at 3.62% on Fibonacci: Technical Analysis Treasury 10-year notes may lose appeal as yields decline toward 3.62 percent, according to Daiwa Asset Management Co., citing trading patterns.

Senate Said to Weigh Setting Up $50 Billion Fund to Wind Down Failed Firms Senate negotiators are closing in on a deal to create a $50 billion trust fund from fees on large financial firms that may include Goldman Sachs Group Inc. and Citigroup Inc. and be used to wind down failing institutions, said a Senate aide and two people familiar with the talks.

Hedge Funds Return 0.5% in February as Stocks Recover, U.S. Rates Stay Low Hedge funds returned 0.5 percent in February, led by North American managers, as global stock markets rose on signs of recovery in corporate earnings and signs that U.S. interest rates will remain low, Eurekahedge Pte said.

Argentina, Peru, Chile, Colombia: Latin America Bond and Currency Preview The following events and economic reports may influence trading in Latin American local bonds and currencies today. Bond yields and exchange rates are from the previous day’s session.

Papandreou Says Obama Is `Supportive' of Measures to Stem Deficit Crisis Greek Prime Minister George Papandreou said U.S. President Barack Obama expressed support for measures being taken to deal with Greece’s financial crisis.

Posen Says Bank of England Hopes Bond Plan Has `Done it' as Economy Grows Bank of England officials are counting on their 200 billion-pound ($300 billion) bond-purchase program to have succeeded in restoring the economy to growth, policy maker Adam Posen said.

Romania's Rating Outlook Raised to Stable at S&P on Budgetary Commitment Romania’s credit rating outlook was raised to stable at Standard & Poor’s after the International Monetary Fund resumed a bailout loan to the country and the government passed an austerity budget.

South Africa, Uganda, Zambia: Sub-Saharan Local Bond and Currency Preview The following events and economic reports may influence trading in sub-Saharan African bonds and currencies today. Bond yields and exchange rates are from the previous session.