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Nikkei Touches 2 Month Low

The Nikkei index ended below the 13,000 mark Thursday at its lowest level in two months, as selling was spurred by uncertainty over the course of U.S. monetary policy as well as disappointment with the government’s growth strategy.

The 225-issue Nikkei Stock Average closed down 110.85 points, or 0.85 percent, from Wednesday at 12,904.02, the lowest closing level since April 5. It moved between the low of 12,862.02 and the high of 13,238.53.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 19.26 points, or 1.77 percent, at 1,070.77.

All 33 sectors declined, led by machinery makers, utilities and metal products.

The Nikkei again fluctuated in nervous trading, sagging more than 150 points then rising over 220 points before finishing the session lower, in line with the movement of the currency market and futures trading, brokers said.

via Mainichi [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza