The yen was near a seven-year low before data on Japans economy, with Group of 20 leaders pledging to bolster growth amid concern over a global slowdown. New Zealands dollar jumped while crude oil held gains.
Japans currency lost 0.3 percent to 116.63 per dollar by 8:45 a.m. in Tokyo, weakening for a third day, while futures on the Nikkei 225 Stock Average advanced in the Osaka pre-market. The kiwi climbed 0.4 percent after retail sales rose more than was projected. Oil in New York and London was steady after both blends surged more than 2 percent Nov. 14. Standard & Poors 500 Index futures dropped 0.1 percent as gold fell. Australias S&P/ASX 200 Index declined 0.1 percent, led by utilities.
The economy in Japan, Asias second-largest, probably returned to growth in the third quarter, analysts surveyed by Bloomberg say, after contracting the most since 2009 in the three months to June. G-20 leaders, meeting in Australia at the weekend, agreed to measures that would boost their economies by a collective $2 trillion by 2018. China said Nov. 15 that it saw the biggest increase in bad loans since 2005 last quarter, while a stock link between Shanghai and Hong Kong opens today.
Source : Bloomberg