Market news
29.12.2010, 18:31

American focus:

The dollar fell against all of its major counterparts as signs of U.S. economic recovery spurred demand for higher-yielding assets, including stocks. The Standard & Poor’s 500 Index gained 0.3% and the MSCI World Index added 0.3%. The U.S. currency weakened against the yen for an eighth consecutive session, the longest streak since 2004, even after Japan’s Finance Minister Yoshihiko Noda said yesterday the nation would take “bold” action to prevent an overvalued yen. The yen has risen 2% against the dollar this month, while the euro is up 1.2%. The greenback weakened against the New Zealand and Australian dollars before a U.S. report tomorrow forecast to show initial jobless claims fell. The euro extended its gains against the greenback, rising for the fourth time in five days. Foreign investors bought more equities than they sold this week in India, Indonesia, South Korea, Taiwan, Thailand and Vietnam. The International Monetary Fund forecasts Asia’s developing economies will expand 9.4% in 2010 versus 2.7% in advanced countries.

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