Weekly Forex News Letter 19-01-2012

Weekly News Rupee ends at 48.9350 vs dlr, highest since Feb. 7 Euro Euro hits 2-1/2-mth high vs dlr on short-covering rally.

indore, India (prHWY.com) February 27, 2012 - Weekly News

Rupee ends at 48.9350 vs dlr, highest since Feb. 7
Euro Euro hits 2-1/2-mth high vs dlr on short-covering rally.
Aussie rises, yen slips as regional shares climbs.
Dollar/yen rises to highest level since July 2011.

Weekly trends of the market

The yen tumbled across the board, a downtrend that started with the Bank of Japan's
recent monetary easing. Japan's trade deficit, widening interest rate differentials with
the United States favoring the dollar and rising crude oil prices also have hurt the yen's
prospects.
Dollar/yen traditionally has a strong correlation with short-term Japanese-U.S. yield
spreads. U.S. Treasury yields are not expected to rise much further due to the Federal
Reserve's pledge to keep rates exceptionally low until at least 2014, while Japanese 2-
year government bonds are already extremely low.
The Indian rupee gained for a second straight week on European efforts to contain the
region's debt crisis were working, boosting sentiment for riskier emerging-market
assets.
Sterling rose against the euro ,recovering early losses and made robust gains against
the dollar on steady demand from corporates, but expectations of more monetary
stimulus by the Bank of England were likely to check gains
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