Dollar falls at least 15 years

The dollar fell Tuesday to a new 15-year low against the yen after Japanese Prime Minister Naoto Kan won an election within the ruling party, generating speculation that Tokyo did not take immediate action to stop the advance of its currency .Naoto Kan will maintain his position as prime minister after winning the party internal Ichiro Ozawa, who had been most strident in calling limit the yen's rise.
At 1120 GMT, the dollar fell 0.6 percent to 83.18 yen, after losing up to 83.07 yen on trading platform EBS.
"The market had positioned for a victory Kan, the scope for considerable appreciation of the yen may be limited," said Derek Halpenny, European head of currency research at Bank of Tokyo-Mitsubishi UFJ and the dollar fell .

Dollar Falls

"The downside for Kan (...) is reached only 50.7 percent of the votes of party members. This does not give a sufficiently strong mandate to lead the country and we suspect that once markets focused on this aspect, the yen could weaken a bit, "he said.Still, operators say that a rise in the dollar may be short-lived, with a ceiling of 84.43 yen intraday on Monday considered the first point of resistance, due to the expectation that Japanese exporters sold more dollars before balance sheet for fiscal first half on 30 September an the dollar fell .
"The threat of intervention will be around the market, but will there be international cooperation? Probably not. Then the market will continue to test the determination of Khan," said Simon Derrick, manager of currency research at Bank of New York Mellon.
Analysts said if the dollar falls below 83 yen and touched the 82 units, the risks of intervention would increase dramatically.

Dollar falls at least 15 years

The euro was around session lows against the dollar at $ 1.2830 after the rate of German ZEW economic sentiment fell more than expected in September.
The euro reversed some of its gains on Monday, resulting in positive economic data from China and the relief of the markets following the agreement of the new banking regulations of Basel III.
The market believes that the currency will have a point of resistance at 1.2920 to 30 dollars, a level that has slowed the rise of the currency several times since August.The dollar fell below parity level against the Swiss franc to a nine-month low of 0.9996 francs on electronic trading platform EBS, and played a one-month low against a basket of currencies. and the dollar falls. The dollar index climbed 81.98, rebounding from its 200 day moving average of 81.761.
Market participants expect the publication of data on U.S. retail sales, expected to show an increase of 0.3 percent in August from last month.
A less-than-expected reading could trigger further gains in the yen against the dollar fell .