FOREX

Shaken by a debt crisis that is hurting their currency, euro zone finance ministers met on Monday to discuss more effective fiscal discipline for now and the longer term. The talks were the first since euro zone governments hatched a $1 trillion plan a week ago in a bid to stabilise nervous financial markets and limit contagion risks after the financial rescue of Greece, the first in 11 years of monetary union.

The following are comments by euro zone finance ministers and other officials in connection with their regular meeting in Brussels on Monday.

The euro rallied against the dollar on Monday on a rise in risk appetite after a U.S. report showed strong demand for U.S. long-term securities and a flurry of short covering by investors who had bet the currency would fall further. Earlier the euro fell to a four-year low against the dollar on persistent concerns with euro zone sovereign debt and fears that planned austerity measures will hurt growth in the region, but its fortunes revived amid German bank euro buying.

The yuan has risen strongly against the euro and this appreciation will harm Chinese exporters, a Commerce Ministry official said on Monday. Pegged to a rising dollar, the yuan has appreciated against a trade-weighted basket of currencies in recent months, which many analysts believe could constrain the scope for a possible revaluation of the Chinese currency.

The Australian dollar has opened weaker this morning trading at US$0.8850 following another risk aversion sell of in the markets.

After holding up relatively well for the majority of the week compared to other major currencies the Aussie dollar finally gave way to a barrage of selling on Friday night falling below the 89 cent handle to a low near 0.8850 against the Greenback

Venezuelan authorities have raided four money-changing businesses and arrested one man in the start of a clampdown on what President Hugo Chavez calls capitalist speculators distorting the currency market.

* Chavez says websites, money changers to be raided * Fitch says new rules may hurt macro and ratings * Foreign exchange market paralyzed after law reform (Adds Fitch growth warning, details)

The Australian dollar has opened lower this morning as investors moved away from risk assets, leading to falls in equities and commodity prices.

Home loan figures in Australia fell -3.4% in March exceeding expectations as signs the Reserve Bank of Australia's rate hikes are starting to have an impact.

The Australian dollar has opened this morning close to USD0.8950 after a relatively quiet trading session overnight.

The Australian dollar is weaker once again versus the Greenback starting today at 0.8945 US.

Countries within the euro zone should implement a new system of cross-border budgetary co-ordination, the managing director of the International Monetary Fund told the Financial Times in an interview.

Japan's Ministry of Finance intends to take advantage of the current low government bond yields to prolong the average maturity of its debt to reduce refunding risks, a senior ministry official said on Wednesday.

The Australian Dollar has opened weaker this morning following a raft of news releases overnight across the globe.

The Australian dollar rallied against the US during Asia despite data showing a decline in business confidence and job advertisements.

Federal Reserve Chairman Ben Bernanke on Tuesday described the Greek debt crisis as a European problem but one that could have hit U.S. banks if left unattended, a senior Republican senator said.

The AUD is fairly unchanged from yesterday's close to be currently trading around USD0.9030 despite the huge gains posted in the offshore equity markets.

The Australian Dollar opens at 0.8970 today after another turbulent 24 hours.

U.S. President Barack Obama and his team have been in close contact with their counterparts abroad on the European debt crisis, the White House said on Monday. The president and his economic team have been following and have been engaged in this situation for quite some time, White House spokesman Robert Gibbs told reporters.

The Bank of England kept interest rates at 0.5 percent and made no change to its asset purchase target on Monday, keeping in place stimulus measures designed to nurse the economy back to health. The decision was predicted by all 63 economists polled by Reuters, most of whom do not expect interest rates to rise until the fourth quarter of the year at the earliest.

China returned to familiar territory by posting a trade surplus in April, but exports only narrowly topped imports, providing limited comfort for policymakers fearful of another round of global economic turmoil. China recorded a $1.7 billion trade surplus last month, defying expectations for a second straight deficit after March's $7.2 billion shortfall.

The euro rallied from last week's 14-month low against the dollar on Monday after European Union leaders agreed on an emergency loan package to prevent Greek's debt crisis from spreading through the region. The package, which with IMF support may reach 750 billion euros, along with measures by central banks to address funding strains and a European Central Bank plan to buy the region's government bonds, calmed nerves after contagion fears triggered a global rout in equities and other risky asset...

The premiums investors demand to buy peripheral euro zone government bonds rather than German benchmarks fell on Monday as safe-haven demand fell after the agreement of a $1 trillion rescue package to shore up confidence in European markets.

The volatility in financial markets continued on Friday's trade but thankfully not to the same extent as seen the previously.

Disappointing Retail Sales data saw the AUD move lower in Asia yesterday falling from 0.9090 to enter offshore exchange hovering on the precipice of the psychological 90 cent level

Did anyone really see that coming? Last night's price action in the market has mirrored the beginning of the financial crisis in 2008.

Disappointing Retail Sales data saw the AUD move lower in Asia yesterday falling from 0.9090 to enter offshore exchange hovering on the precipice of the psychological 90 cent level.

A Japanese ruling party panel called on the government and the Bank of Japan on Thursday to make utmost efforts to keep the yen at appropriate levels as part of efforts to pull the world's No.2 economy out of deflation.