Currencies

Yen Heads for Weekly Gain Versus Euro on Concern Over Credit Market Losses The yen rose against the euro, heading for its biggest weekly gain in three months, as renewed concern credit-market losses are spreading spurred investors to sell higher-yielding assets.

Pimco, Templeton Load Up on Malaysian Bonds, Lured by Rise in Ringgit, Oil Malaysian bonds are attracting a record amount of foreign investment as rising prices for the nation's fuel and food exports swell its surplus and send the ringgit to the highest in a decade.

Americas

Canadian Dollar Strengthens After April Employment Growth Exceeds Forecast Canada's dollar rose the most in more than three weeks after a government report showed employers added more jobs in April than economists forecast.

Colombia's Peso Rises for Second Day on Outlook for Higher Interest Rates Colombia's peso rose for a second day on speculation the central bank may raise interest rates to combat inflation.

U.S. Trade Deficit Smaller Than Forecast as Imports Drop Most in Six Years U.S. demand for imported goods slumped in March, overwhelming the impact of the first export decline in more than a year and causing the American trade deficit to shrink more than forecast.

Europe

Pound Falls, Headed for Weekly Drop, on Bets BOE Will Resume Cutting Rates The pound fell against the euro, posting its first weekly decline in a month, on speculation signs the economy is faltering will prompt the Bank of England to resume cutting interest rates.

South African Rand Declines Against Dollar in Week as Stock Markets Slump South Africa's rand fell against the dollar this week, snapping a six-week advance, as equity-market losses around the world sapped investor demand for higher- yielding assets.

Iceland Has Little Choice Other Than to Raise Interest Rates, S&P Says Iceland's central bank will have to continue raising its benchmark interest rate, even after two increases to a record 15.5 percent this year failed to prevent a renewed slump in the krona this week, Standard & Poor's said.

Asia

Asian Currencies: Won, Rupee Lead Weekly Decline on Crude Oil, Fed Signals Asian currencies fell this week, led by South Korea's won, on speculation record oil prices will damp the region's economic growth and the Federal Reserve may have finished cutting interest rates.

Standard Chartered Trims Forecasts for Gains in Chinese Yuan as Pace Slows Standard Chartered Plc lowered its forecasts for gains in China's yuan in the second and third quarters after the central bank slowed the pace of appreciation.

JPMorgan Recommends Buying Call Options on Malaysian Ringgit After Slump Investors should take advantage of the Malaysian ringgit's biggest weekly slump in six months to buy the currency because the appreciation will resume as its ``fundamentals remain intact,'' according to JPMorgan Chase & Co.

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