The News Review:

- WRLD FREX: Yen Up Broadly As Safe Haven n US Auto Woes
- China has to keep buying US Treasuries: analysts
- WRLD FREX: Euro Up Vs Yen As Speculators Adjust Positions
- WRLD FREX:Dlr Down Vs Yen As Japan Players Sell For FY-End

WRLD FREX: Yen Up Broadly As Safe Haven n US Auto Woes
Wall Street Journal
–>WRLD FREX: Yen Up Broadly As Safe Haven n US Auto Woes ArticleCommentsmore in. government said it may allow General Motors Corp. and Chrysler LLC to go bankrupt. After news emerged around 0400 GMT that the White House will give failing marks to GM and Chrysler’s restructuring plans the dollar fell more than half a yen.

China has to keep buying US Treasuries: analysts
AFP
“Knowing that the US government needs foreign funding to implement its stimulus measures which play an important role in reviving growth momentum stateside the Chinese have an incentive to get behind the plan. “China’s concern comes as the US Federal Reserve decided earlier this month to buy up to 300 billion dollars in long-term US Treasury bonds in an effort to revive the ailing economy a move which has sparked concern that returns on future bond purchases will be lower. Adding to this media reports have pointed to billions in forex reserve losses in China due to a drop in the value of non-dollar assets and to risky investments abroad. According to a report in the China Business News China’s forex reserves fell by about 30 billion dollars in January but the report cannot yet be confirmed as China only publishes monthly figures on a quarterly basis. Personal estimates made by He Zhicheng a senior economist at the Agricultural Bank of China suggest China lost at least 80 billion dollars in forex reserves from August last year to February. Part of this loss he says was on risky ventures on overseas stock markets that plunged in value last year and due to currency fluctuations. Stephen Green an economist at Standard Chartered said that management of reserves was about preserving value.
Related from Auctionsmonster: JGBs dip after Treasuries fall on Fed auction eyed

WRLD FREX: Euro Up Vs Yen As Speculators Adjust Positions
Wall Street Journal
–>WRLD FREX: Euro Up Vs Yen As Speculators Adjust Positions ArticleCommentsmore in. Early in the Asian session short-term investors offloaded short euro positions versus the yen helping lift the currency up about 90 sen to an intraday high of Y133. 08 from its New York level late Wednesday dealers said. The euro later pared.

WRLD FREX:Dlr Down Vs Yen As Japan Players Sell For FY-End
Wall Street Journal
–>WRLD FREX:Dlr Down Vs Yen As Japan Players Sell For FY-End ArticleCommentsmore in. But the dollar is unlikely to continue falling dealers said because many short-term-focused investors are refraining from dealing actively ahead of an event-rich next week. “Short-term players wouldn’t be able to trade actively today because we have a plenty of events that could set a long-term trend for the currency.