August 26, 2012

Euro mixed in Asian trade

TOKYO: The euro was mixed in Asian trade on Monday amid renewed uncertainty over the eurozone debt crisis, as markets turn their focus to a speech by the US central bank chief later this week.

The European common currency bought $1.2511 and 98.54 yen in Tokyo morning trade, compared with $1.2512 and 98.43 yen in New York late Friday.
The dollar bought 78.79 yen against 78.67 yen in US trade.
Dealers said markets looked for concrete steps from the European Central Bank (ECB) to tackle the region's fiscal woes with bank chief Mario Draghi hinting at fresh measures.
There has been rising speculation that the ECB would restart a bond buying programme to tame borrowing rates among troubled eurozone countries, such as Italy and Spain.
But Draghi said details of any ECB measures still had to be worked out with member states amid persistent speculation that eurozone paymaster Germany opposed the measures.
German Chancellor Angela Merkel met with Greek Prime Minister Antonis Samaras on Friday about the terms of aid for debt-hit Athens but "there was no progress as earlier expected", Hiromichi Shirakawa, analyst at Credit Suisse in Tokyo, said in a note


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