CURRENCY VIEW

Major Forex News
Yen Rises as Slowing China Growth Spurs Safety Bid; Euro Weakens
The yen rose for a third day versus the dollar after China’s growth slowed more in the first quarter than economists forecast, fueling demand for haven assets.
Japan’s currency advanced against all except one of its 16 major peers after the U.S. Treasury said it would press the nation to refrain from competitive devaluation. The New Zealand and Australian dollars tumbled as the Chinese data showed their biggest trading partner is losing momentum. The euro fell as Moody’s Investors Service said the risk Cyprus will exit from the currency bloc remains high. South Korea’s won rose as the U.S. suggested North Korea will be invited for nuclear talks. The yen rose 0.7 percent to 97.73 per dollar at 7:04 a.m. in New York after appreciating to 97.55, the strongest level since April 5. Japan’s currency gained 0.9 percent to 127.81 per euro after jumping 1.2 percent on April 12. The euro dropped 0.3 percent to $1.3077.