L&T looks overseas to offset weak home market; Q4 net profit falls
India's largest engineering and construction group, will look overseas to offset a weak economy and project bottlenecks at home that led to a bigger-than-expected profit drop. Article | Full Coverage
REUTERS SHOWCASE
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
Dollar drops to 3-week low versus yen
 |
Aishwarya at Cannes
Aishwarya Rai Bachchan marks 12 years at the Cannes Film Festival. Here is how she looked over the years. Slideshow
The dollar fell to its lowest in three weeks on Friday as hedge funds sold the U.S. currency on growing concerns about the looming fiscal problems in the United States which could drive the economy into a recession.
The dollar dropped to 79.21 yen on trading platform EBS, its lowest since Oct 19 and down 0.3 percent on the day. Traders cited stop-loss sell orders below 79.20 yen.
The yen is the most sought after currency at times of financial stress and doubts about an economic recovery.
The dollar's drop mirrored narrowing spreads between the yields on two-year U.S. Treasuries and Japanese government bonds. The currency pair has a robust relationship with that spread.
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters