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- American focus: yen declines on Fed
American focus: yen declines on Fed
The euro rallied from a two-week low against the dollar as investors with 58 percent of the Greek bonds eligible have indicated they’ll participate in the so- called private-sector involvement of the nation’s bailout. The nation has said it will use collective action clauses to force holders of Greek-law bonds to accept the swap if it receives sufficient consent from investors.
The dollar rose against the yen after a report that the Federal Reserve is considering sterilized bond purchases. Brazil’s real tumbled against all of its most-traded counterparts as the government prepared measures to control capital inflows and stem the currency’s appreciation. The yen extended losses against the dollar to 0.2 percent to trade at 81.04 after the Wall Street Journal reported the U.S. central bank was considering a monetary program that would also subdue concern about future inflation. The program could see the Fed borrow an equivalent amount of money that it used to purchase the bonds, the report said.
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