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Broadgate: Market News 20/4

20 April 2012

German 10-year bond yields hit record lows on Friday and riskier assets came under pressure on growing fears about the euro zone debt crisis and uncertainty over global growth.

A weekend featuring a potentially rocky meeting of the International Monetary Fund, which is seeking to boost its funds to help contain Europe’s problems, and the first round of a French presidential election have heightened the nervousness.

Weak U.S. unemployment and factory activity data on Thursday also renewed doubts about growth, sending Wall St lower and hitting commodity-related currencies during Asian trading.

The yen hovered near its lowest levels in ten days against the dollar on Friday and was set to stay under pressure on expectations of more easing by the Bank of Japan next week, although its outlook further out is less certain.

The greenback stood at 81.63 yen, having hit a 9-day high of 81.74 the day before. That brought the April 10 peak of 81.87 into focus. The euro climbed as high as 107.35, staging a powerful comeback from Monday’s trough of 104.63.





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