Currencies

Yen Gains as Greece Bailout Optimism Fades; Dollar Rises Ahead of Fed Meet The yen rose against the euro on receding optimism that European Union finance ministers will provide financial assistance to Greece, boosting demand for the Japanese currency as a refuge.

International Demand for U.S. Assets Slows as Japan, China Pare Positions International demand for long-term U.S. financial assets weakened in January as China and Japan, the two biggest holders of Treasuries, reduced their positions.

Chile Peso Gains on Pinera Plan to Use $11.3 Billion of Savings to Rebuild Chile’s peso rose the most in a week after President Sebastian Pinera said he plans to tap the nation’s overseas savings and borrow in international debt markets to pay for reconstruction from last month’s earthquake.

Canada's Dollar Trades Near Strongest Since July 2008 as Stocks Recover Canada’s dollar traded near its strongest level against its U.S. counterpart in almost two years as U.S. stocks erased losses in the final hour of trading.

Buy Brazilian Real Put Options to Hedge Risk of Election Slump, BofA Says Bank of America Corp. recommended clients buy real put options to hedge against the risk that Brazil’s presidential election in October will spark a “short- lived” slump in the currency.

Democrats Increase Pressure on Obama to Demand China Raise Yuan's Value Democratic lawmakers, prodding President Barack Obama to take a tougher line on China’s currency, are drawing up legislation and convening hearings on the yuan’s effects on U.S. companies.

Loonie May Revisit Record Against Dollar, SocGen Says: Technical Analysis The Canadian dollar may push past parity with its U.S. counterpart and break through its 2007 record of $1.10 after the greenback breached a key support level, Societe Generale SA said, citing trading patterns.

British Pound Weakens on `Hung Parliament' Concern, House Asking Prices The pound dropped the most in two weeks against the dollar after a poll showed the U.K. may face a minority government after this year’s election and home prices rose in March by the smallest amount for the month on record.

Swiss Franc Posts Biggest Increase in More Than a Month Against the Euro The Swiss franc rose by the most in more than a month against the euro on bets the central bank will relax its resistance to its gains as the economy recovers.

Euro Weakness Is `Excessive' as Sovereign Risks Diminish, JPMorgan Says The euro is about 4 percent to 5 percent too cheap against both the dollar and the yen given diminishing concerns that any European countries will default, according to JPMorgan Chase & Co.

EU Finance Chiefs to Weigh Greek Rescue as Ministers Seek to Avoid Bailout European finance ministers sparred over an aid package for debt-ridden Greece, banking on the Greek government’s budget cuts to make a bailout unnecessary.