Reuters: US Dollar Report: GLOBAL MARKETS-Nikkei hits 6-wk low, yen firms after Japan GDP

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

GLOBAL MARKETS-Nikkei hits 6-wk low, yen firms after Japan GDP Aug 12th 2013, 00:38 Sun Aug 11, 2013 8:38pm EDT * Yen firms against dollar, hit 6-week high vs euro * Nikkei falls to six-week low, Asian shares steady By Dominic Lau TOKYO, Aug 12 (Reuters) - Japanese shares fell to a six-week low on Monday and the yen strengthened after data showed Japan's economy grew at a slower-than-expected pace in April-June, triggering investors to pare back some of their risk exposure. Japan, the world's third-largest economy, grew an annualised 2.6 percent in the second quarter, a third straight quarter of expansion but slower than a downwardly revised 3.8 percent rate in the first quarter. "A weaker-than-expected figure triggered investors to become risk-averse, but the gap is minor, so the impact from the GDP data should be short-lived," said Nobuhiko Kuramochi, an economist at Mizuho Securities. The median forecast was for annualised growth of 3.6 percent, and so the data may heighten calls to delay a planned sales tax increase given concerns it could delay Japan's escape from deflation. The Nikkei share average lost 1.2 percent, falling to its lowest since June 28. The yen strengthened as much as 0.8 percent to 95.92 yen to the dollar and hit a six-week high at 127.97 yen to the euro. The dollar was otherwise steady against a basket of major currencies. In regional markets, Asian shares as measured by MSCI Asia-Pacific ex-Japan index were little changed, although South Korean shares gained 0.4 percent. U.S. stocks fell on Friday, posting their biggest weekly decline since June as investors focused on when the Federal Reserve would begin pull back its massive stimulus. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions