| FOREX-Dollar up on technical rebound after US payrolls
NEW YORK, Feb 2 (Reuters) - The dollar edged up on Friday in a technical rebound after a report showing softer-than-expected January U.S. payrolls growth did not entice more sellers. The euro <EUR=> dipped against the dollar, trading just below the psychologically important $1.3000 level. The euro had hit a session high of around $1.3064 shortly after the payrolls data but then turned swiftly around. The dollar extended gains against the yen, trading at a session high of 121.25 yen <JPY=>.
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Canada Afternoon: C$ Slips Lower With Established Range
TORONTO (Dow Jones)--The Canadian dollar ended moderately lower but within recent ranges Wednesday as oil retreated in afternoon trading and the currency came under some pressure from cross selling against the euro and the pound. The U.S. dollar was trading at C$1.1852 at 3:50 p.m. EST (2050 GMT), from C$1.1829 at 8:00 a.m. EST (1300 GMT), and from C$1.1824 late Tuesday. "We're still just stuck in a range, here. We are now at the weaker end of the range we've seen for most of the week," said Firas Askari, managing director of foreign exchange at the Bank of Montreal in Toronto. Against the backdrop of some unimpressive Canadian data releases, hedge funds accounts have been inclined to sell the currency in recent trading, he said. "We've seen some fast money, hedge fund type money, basically like the short Canada trades versus the U.S.," he said.
NAM vice chair urges senate committee, China must move faster on ...
Michael Campbell, Chairman, President and Chief Executive Officer of Arch Chemicals, Inc., based in Norwalk, Connecticut, and Vice Chairman of the National Association of Manufacturers, today told a Senate panel that China needed to allow for greater movement in its currency or risk growing frustration and possible backlash that could damage the global economy. Arch Chemicals is a global manufacturer of biocides, pool chemicals and other specialty chemicals. Campbell also serves as Chairman of the NAMs Board-level U.S.-China Business Relations Task Force. Testifying before the Senate Committee on Banking, Housing and Urban Affairs, Campbell said, On the issue of Chinese currency, manufacturers are united. China needs to allow significant appreciation of its currency with the ultimate goal of seeing it float freely in open currency markets.
FOREX-Yen soars as market reins in short positions
LONDON, Feb 5 (Reuters) - The yen hit a 1-1/2 week high against the euro and rose versus the dollar on Monday as investors scaled back bets against the Japanese currency before a weekend meeting of Group of Seven financial chiefs. The dollar ticked up against the euro ahead of a key survey on the health of the U.S. service sector at 1500 GMT which is expected to give further confirmation that the world's biggest economy will manage to avoid a sharp slowdown. Further ahead, investors are looking to the G7 meeting in Essen, Germany on Feb 9-10 as European officials have been pushing for discussion of the yen's weakness, although their Japanese and U.S. counterparts have played down the issue. Although many doubt the G7 would take any concerted action against the cheap yen, nervousness in the run up to the meeting was enough to prompt them to cover their short positions, which reached a record level last week.
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