Currencies

Yen May Extend Drop Versus Euro as Recovery Signs Damp Demand for Refuge The yen traded near a two-week low against the euro as signs the global economic recovery is on track damped demand for Japan’s currency as a refuge.

Hedge-Fund Losses Show Drop in Euro Fails to Benefit All Currency Traders Hedge funds that trade currencies are taking hits from politicians casting them as speculators out to sink the euro and push Greece into insolvency. They are also losing money.

Dollar Optimism Soars to Highest Since 2008 as Economic Outlook Rebound Investors are the most bullish on the dollar since the collapse of Lehman Brothers Holdings Inc. on speculation the U.S. economy will expand at a faster pace than in Europe and Japan, a survey of Bloomberg users showed.

Canadian Dollar Rises for 9th Straight Day on Outlook for Nation's Growth The Canadian dollar rose for a ninth day against its U.S. counterpart, the longest streak in five and a half years, as investors bet the nation’s economy will be among the strongest during the global recovery.

Chilean Inflation Swap Yields Fall to a Record Low on CPI Bets; Peso Drops Yields on Chile’s inflation-linked interest-rate swaps fell to a record as economists bet inflation will quicken amid boosted government spending and a shortage of goods following the country’s worst earthquake in 50 years.

Dollar Is `Critically Poised' Against Yen: Commerzbank Technical Analysis The dollar may rise against the yen should it break a key resistance level at 92.55, Commerzbank AG said, citing technical indicators.

Buy Mexican Peso Via Options as Growth May `Surprise,' Morgan Stanley Says Investors should buy the Mexican peso through options as economic growth in the second-largest Latin American economy may “surprise on the upside,” Morgan Stanley said.

Bank of America Cuts Forecasts for Euro on Lack of European Fiscal Unity Bank of America Corp. cut its forecasts for the euro for the end of March and June on expectations that a lack of fiscal unity among the nations that make up the monetary union will undermine the currency.

Papandreou Says Obama Is `Supportive' of Measures to Stem Deficit Crisis Greek Prime Minister George Papandreou said President Barack Obama expressed support for measures being taken to deal with Greece’s financial crisis.

Standard Bank Advises Buying Swiss Franc Versus Yen; Bet on Rise to 86.30 Standard Bank Plc advised buying the Swiss franc against the Japanese yen, estimating the currency will appreciate to 86.30 yen.

Buy British Pound Before Fibonacci Rally to $1.57: Technical Analysis Investors should buy the British pound against the dollar as it rebounds from a Fibonacci level and signals a possible “good rally” in the U.K. currency to $1.57, according to Citigroup Inc.