Currencies calm but cautious after a weary week [Reuters]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
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Source: Reuters
Eyes are on the yen this week, with the Bank of Japan's (BOJ) Friday policy review the notable item on the economic calendar. The yen hit 154.70 per dollar, not far from last week's 34-year low of 154.79 and close enough to the 155-level that is next on traders' alerts for possible intervention by Japanese authorities. The dollar's trade-weighted index was above 106, but off five-month highs it struck last week after comments from Federal Reserve officials and a run of hotter-than-expected inflation data forced a paring back of rate cut expectations. A cooling in Middle East tensions, which had driven the dollar, gold and crude oil prices sharply higher on Friday and battered stock markets, also helped temper volatility. Tehran downplayed Israel's retaliatory drone strike against Iran, in what appeared to be a move aimed at averting regional escalation. "There will be a focus on the BOJ meeting, but it is too soon for them to alter policy, and the market gives a change in rat
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