Japanese Yen declines on Asian shares rally

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Source: Bloomberg
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Japanese currency depreciated against most of its counterparts on Wednesday as Asian stock markets traded higher, curbing demand for safer investments amid country's current account data. Japanese Yen slipped 0.5% against US Dollar to JPY 77.14 and edged down 0.6% against Euro to JPY 102.35. Currently USD/JPY is trading at JPY77.05 and EUR/JPY is trading at 102.29. 
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Wed, 08 Feb 2012 07:56:47 GMT

Papademos postpones his meeting with Greek parties

Greek PM Lucas Papademos decided to postpone the meeting with leaders of Greece's three main political parties for the second time in few days. Instead Papademos prepares to meet so called Troika or ECB, IMF and European Comission to finalize details of measures required to receive EUR 130 billion bailout package. 

Wed, 08 Feb 2012 10:33:51 GMT

Chinese government to support first time home purchasers

People's Bank of China is preparing to ease lending rules for first time house buyers to ensure cheaper house projects. Wei Yao, economist at Societe General admitted the decision is likely to spur private demand in rapidly fading property market. Nevertheless, Yao does not expect softer requirements for developers as the government still fears to fuel speculative demand. 

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