The
dollar climbed, rising to its strongest level in more than seven years
versus the yen on divergence in U.S. and Japanese monetary policy.
Mining and energy stocks led Asian shares lower amid a rout in iron ore
prices and as crude oil extended declines into a fourth day.
The
greenback added 0.1 percent to 118.05 yen by 9:27 a.m. in Tokyo,
touching its highest level since Aug. 14, 2007 in a sixth day of gains.
The Korean won slid, while Japans Topix index added 0.3 percent. The
MSCI Asia Pacific Index (MXAP) lost 0.2 percent as BHP Billiton Ltd.,
the worlds largest mining company, dropped to the lowest since July last
year amid a 0.4 percent decline in Australias S&P/ASX 200 Index.
U.S. oil fell 0.2 percent as data showed an increase in American
supplies. Standard & Poors 500 Index futures were little changed.
Iron
ore, Australias biggest export, has slumped to a five-year low on
concern demand from China is waning as its economy slows. The HSBC
Holdings Plc and Markit Economics China manufacturing index is due
today, along with data on factory output in Europe and Japan. While the
Bank of Japan is maintaining record stimulus amid a recession there,
Federal Reserve meeting minutes issued yesterday showed U.S. policy
makers debated their commitment to near-zero interest rates.
Source : Bloomberg 
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