rtr FRANKFURT. Before an important presence of U.S. Federal Reserve Chairman Ben Bernanke , investors on bond and foreign exchange markets have shown the week end care. The Bund futures as a safe haven enjoyed great popularity and further increased by 60 ticks to 134.54 points.
This trend of contract was only slightly below the record high on Wednesday at 134.73 points. The ten-year Federal bonds yielded 2.12 percent.
Investors awaited a speech by Bernanke’s in the afternoon (16.00 GMT clock ). The assessment of the U.S. Federal Reserve (Fed ) to economic development could influence the future direction of the markets crucial. Investors hoped also evidence that the Fed is considering new bond purchase programs. "The question is whether Bernanke new bond purchases in Vista does or not, " said Investec Economist Philip Shaw.
"The recent rally in the U.S. bond market reflects to a large extent this hope. If it does not, we will experience a burglary, but that’s not likely. " The latest economic data from the world’s largest economy had fueled the markets fear of a relapse into recession. The Fed chairman speaks at the annual conference of central bankers in Jackson Hole in the U.S.. Some analysts warned , however, also against high expectations. " I expect that Bernanke , the current economic situation and will outline the general direction only , " said the chief economist of the Bank of America, Mickey Levy, to Reuters insider. "This is not the kind of forum where a new policy is announced. "
The Japanese yen came after the soaring the past few days back a little. Naoto Kan government announced in Tokyo that he would meet President Masaaki Shirakawa Federal Reserve on Tuesday and consult with him on measures against a further tightening of the domestic currency. A strong domestic currency burden on Japanese exporters. Japan also lies in a downward spiral of falling prices and weak demand. Kan said he expected that the Bank of Japan to take appropriate monetary policy measures against the strong yen will rise . Shirakawa , meanwhile, stayed in touch bankers meeting in Jackson Hole.
The dollar fetched at 84.75 (late Price Terms : 84.48 ) yen , the euro pulled to 107.70 ( 107.42 ) yen. The pound sterling , meanwhile, hardly helped that the British economy has grown so strong in the second quarter than it has been nearly nine years. According to investors, traders made immediately after a brief relief rally fund. The pound fell to $ 1.5502 . For one euro were paid just 82 cents , and thus about as much as on Thursday evening. The economic performance of the Kingdom increased in the spring by 1.2 percent over the previous quarter and higher-than expected.