FOREX-Dollar slips broadly, euro firmer on Greece hopes
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FOREX-Dollar slips broadly, euro firmer on Greece hopesFOREX-Dollar slips broadly, euro firmer on Greece hopesTOKYO,Fire hose, March 3 (Reuters) - The dollar touched its lowest in more than two months against the yen on Wednesday as investors dumped long positions
#x against other currencies that had built up to levels not seen in more than a year.Investors have been picking up dollars in recent months
#x as Greece's credit and fiscal woes hit the euro and worries over a potential hung parliament and speculation that Britain's asset-buying scheme could be revived knocked the pound lower.But sterling leapt versus the dollar on Wednesday as investors decided the pound's slide this week to a 10-month low had gone too far.The euro rose against the greenback as investors trimmed record short positions in the single currency that had pushed it to its lowest in more than nine months the previous day, and ahead of a possible European debt plan to support Greece.A trader for a Japanese brokerage house said the euro's gains could gather steam in the near-term if it breaks above $1.3680 and triggers stops above that level.Still, it may be premature to expect the trend for euro weakness to change, he said."Some market players are probably still looking to sell the euro on rallies,japanese swordsand any bounce would likely just be the result of a short squeeze."The euro rose 0.2 percent to $1.3644 EUR=, pulling away from a a 9-1/2-month low of $1.3433 hit on trading platform. EBS on Tuesday.Sterling gained 0.5 percent to $1.5044 GBP=D4,japanese swordsrecovering further after having been dumped to a 10-month low of $1.4781 on Monday on large selling flows possibly linked to mergers and acquisitions, traders and analysts said.The yen also climbed, with the dollar hitting a low of 88.47 yen on trading platform. EBS earlier on Wednesday, the dollar'sjapanese swordslowest since mid-December, but still some way off a 14-year low of 84.82 yen struck on EBS in November.The dollar later trimmed its losses to stand at 88.80 yen JPY=, down 0.1 percent from from late U.S. trading on Tuesday."I don't think the dollar/yen rate will head down toward 85 yen of its own volition. The market is being driven by moves in European currencies,"japanese swordssaid Tokichi Ito, deputy general manager at Trust & Custody Services Bank's forex team.But given the potential for fund repatriation by Japanese corporates and investors before their end-March book closings, the dollar seems more likely to head lower than higher against the yen in the near-term, Ito added.相关的主题文章：
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