The News Review:

- FOREX-Dollar yen fall versus euro as stocks rebound
- S.Korea to intervene marginally in forex market
- Citic Pacific shares tumble as forex bet exposure grows
- Iran’s forex reserves above $80 bln – state tv

FOREX-Dollar yen fall versus euro as stocks rebound
Reuters 
dollar and the yenfell against the euro on Tuesday as a stock market reboundreduced demand for safe havens. Shares on Wall Street rose sharply in the last hour oftrading after Monday’s sell-off. The foreign-exchange markethas closely eyed equity performance for direction in recentweeks with rising stocks boosting risk appetite and hurtingdemand for the U.

S.Korea to intervene marginally in forex market
Forbes NY 
‘South Korea does not have enough capacity for massive forex intervention. We will carry out smoothing operations in forex markets when necessary’ Bahk Byoung-won senior presidential secretary told reporters.

Citic Pacific shares tumble as forex bet exposure grows
AFP 
38 billion US) as of November 26 up from the 16. 8 billion it reported last month. The Hong Kong-based conglomerate also said in the statement issued late Tuesday it will pay 9. 1 billion dollars to its parent Citic Group for taking on liabilities arising from some forex contracts. Last month Citic Pacific’s Beijing-backed parent said it would buy 1. 5 billion US dollars of convertible bonds to bail out the firm mired in failed currency bets which had suffered from a falling Australian dollar. The firm has asked shareholders to approve the deal at an extraordinary general meeting on December 19.
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Iran’s forex reserves above $80 bln – state tv
Reuters 
The figure was in line with one given in April. But worldoil prices have fallen by around $100 a barrel since July andIran and other major crude producers face declining exportrevenue from their hydrocarbon wealth. “Central bank: Iran’s forex reserves over $80 billion” theEnglish-language satellite station said in a scrolling headline. Central bank officials in the past said Iran was switchingreserves into currencies other than the U. dollar because ofU.