Reuters: US Dollar Report: GLOBAL MARKETS-Dollar drives higher vs yen, equities steady post Fed

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GLOBAL MARKETS-Dollar drives higher vs yen, equities steady post Fed Oct 25th 2012, 07:39 Tweet Share this Email Print Related Topics Stocks » Currencies » Markets » Financials » Industrials » Thu Oct 25, 2012 3:39am EDT * Dollar hits 4-mnth high v yen, euro claws back above $1.30 * European shares continue to steady after recent falls By Marc Jones LONDON, Oct 25 (Reuters) - The dollar hit a four-month high against the yen on Thursday on expectations of monetary stimulus measures in Japan. The U.S. Federal Reserve's latest commitment to supporting growth helped steady world equity and commodity markets, as did Chinese data pointing to rising factory output and orders. The dollar extended this week's push against the Japanese currency to as high as 80.14 yen, aided by a growing belief among investors that the Bank of Japan will unveil further monetary easing at its policy meeting on Oct. 30. "Yen weakness overnight continues to reflect building expectations of additional monetary policy easing from the BoJ at next week's meeting," said Bank of Tokyo-Mitsubishi currency analyst Lee Hardman. European shares followed the example set by Asian equities to open broadly flat at 1093.84 points, stabilising after a near 3 percent slide in the first half of the week. London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX were all little changed, while the MSCI index of global shares, which has also suffered in recent days, was up 0.13 percent at 0710 GMT. Lifting the mood were comments from China's Ministry of Industry and Information Technology predicting the country's factory output should pick up towards the end of the year and a survey showing orders at their highest levels in months. Britain is also expected to announce later that its economy pulled out of recession in the third quarter. The euro which has been rattled by drab data and uncertainty over deeply indebted Spain and Greece this week, was up 0.2 percent at $1.29975, off a near two-week low. Following to the trend, German government bond futures fell in early moves, mirroring falls in U.S. Treasuries after the Federal Reserve held course on monetary policy. Oil prices rose back above $108 a barrel, after falling for a seventh consecutive session on Wednesday. London copper added 0.7 percent to $7,872 a tonne and gold edged up 0.3 percent to $1,706.79 an ounce in thin trade. Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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