Shinsei Bank Ltd., the Japanese lender backed by U.S. investor Christopher Flowers, may raise 75 billion yen ($830 million) selling shares instead of merging with Aozora Bank Ltd., said a person with direct knowledge of the matter
Little has changed regarding the euro and Yen crosses. The CADJPY and AUDJPY have traded to new highs but closed off of the best levels of the day.
The New Zealand dollar extended the rally from earlier this week and is the best performing currency against the greenback on Wednesday, while the Japanese Yen weakened across the board and retraced the two-day rally against the U.S. dollar.
• Dollar Avoids a Trend Once Again after Retracing Risk Aversion Gains • Euro Stumbles as Policy Officials Voice Their Doubts over Greece and an EMF Solution • British Pound Hit by Data and Credit Rating Warnings • Japanese Yen Benefits from Carry Unwinding and Strong Signs of Economic Recovery
The Japanese Yen strengthened across the board as investors scaled back their appetite for risk, while the British Pound extended the decline from earlier this week and slipped to a low of 1.4937 as Fitch Ratings held a cautious outlook for the U.K.
• Dollar Unchanged on the Day as Risk Pressures Build in the Background • Euro Stability Improved by Plans to Create a European Monetary Fund • British Pound Struggles to Find a Firm Footing through a Round of Notable Event Risk • Japanese Yen Finds Little Guidance on Risk Trends but the Economic Outlook Develops
Expect the EURGBP to test 9200. Although far from clear, there is little evidence to suggest a reversal lower in the Yen crosses near term (yet).
The New Zealand dollar rallied for the second-day to reach a high of 0.7036 against the greenback, while the Japanese Yen weakened against most of its major counterparts as investors increased their appetite for risk.
The EUR/JPY continues to consolidate following the post NFP volatility. A better than expected labor report sparked a bout of risk appetite and broad based Yen weakness. Concerns have eased over the deficit troubles in Greece, with International Monetary Fund’s Managing Director Dominique Strauss-Kahn believing that it will resolve its debt-crisis without IMF help.
Currencies have been largely confined to tight ranges in early trade this week, with the markets still digesting the extreme Yen moves seen on Friday.
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