RPT-GLOBAL MARKETS-Dollar hits 14-yr low vs yen, gold new peak

Thu Nov 26, 2009 4:04am GMT
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* Gold hits new record as dlr slides to 14-yr low vs yen

* Asian shares weak as investors digest mixed data

* Yen firm as government says not planning to intervene

By Susan Fenton

HONG KONG, Nov 26 (Reuters) - The dollar slumped to a 14-year low against the yen on Thursday, helping gold scale another record high, while Asian stocks faltered as investors digested a mixed batch of economic data.

Gold punched above $1,192.60 an ounce on expectations more central banks will buy the precious metal. Its strength was also a reflection of expected prolonged weakness in the dollar, which has already lost more than 8 percent against major currencies this year and is heading for its biggest yearly slide in six years.

On Thursday the dollar slumped to a 14-year low against the yen JPY= below 87 yen, as deputy Japanese finance minister Yoshihiko Noda told Reuters that Tokyo was not planning to intervene in the market [ID:nT371315], and hit a 15-month low against a basket of major currencies .DXY.

The yen's strength continued to put pressure on shares of Japanese exporters. Japan's Nikkei .N225 share index was flat but hit a four-month low in early trade and analysts said sentiment remained weak after the government said last week that the economy was back in deflation.   Continued...

 
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