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.
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.
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.
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.