treasury bonds and the dollar, itself. investors moving out of relatively safer assets such as bonds into relatively riskier assets. let's have a look at the opening levels here for the nikkei and the topix. 9,080. back above the 9,000 level. let's see if we can close there today up 154 points the topix up 14 points. nikkei gained yesterday around 2% following the news out of europe which reached the markets here actually before the stocks closed and we did see strong gains in the banking sector and some key blue chip stocks which had seen selling in earlier sessions. the major moves were really quite frankly in the euro. let's have a look at the currency levels again this morning as the stocks are kicking off here. you can see the dollar/yen stubbornly below the 76 level, 75.94 to 97. euro/yen you can see the weakness in the yen now at 107.71-76. as you said with the dollar/yen we did hit a fresh record high there hitting 75.67 so that yen remains strong against the dollar. japanese authorities are on the lookout for fx le

to the u.s. dollar and we're. for that to happen that the u.s. loses reserve currency status that would mean that the u.s. would lose one of the major pillars of wall street financial power worldwide and they would you levers major levers and also they wouldn't be able to finance their wars given the budget deficits are running. ironically the chinese with their investment in u.s. treasury debt and the japanese are financing wars against chinese national interest in afghanistan and iraq and now in libya so it's a very diabolical situation that wall street and the treasury have manufactured if they lose that they lose a huge one of the two major pillars of american post-war power when you mentioned challenges the u.s. will dominance you said it may be china only together with other countries and together with russia when you mentioned i mean you mentioned that there are that that china is very. it's scientists dependent on natural gas when it gets from russia so that do you mean that in this new construction this new world situation russia will st

fast a few analysts predict the ulong could overtake the dollar as the principal reserve currency and china could become the world's largest economy with the decade others say it would take my child while the u.s. criticizes china for keeping its currency artificially low to make its cheap goods more competitive in world markets the state control works in china's economy has been growing at nine percent a year and satisfied by the status of the world's manufacturer china has been developing its in the vein of capability throughout the last decade after it has already borne fruit. in a year when the u.s. has wound down its space shuttle fleet china has put its first research more into orbit and plans to eventually construct for aged platform the launch has been described this chain is a new milestone on its road to want superpower status. our reporter seems to be more impressed by the chinese miracle than you are so there's it makes sense what we've just heard now the chinese economy is a highly impressive thing i've been there five times in the last three years and travel extensively

investors sold the dollar in exchange for the yen during trading hours in new york. at one point, the yen briefly hit 75.78 against the dollar. market sources say expectations are high that european leaders would come out with a package of measures to stem concerns about europe's debt problems. this has led investors to sell the dollar and buy the euro. investors also sold the dollar in exchange for the yen. >>> euro zone finance ministers are discussing how to ease the greek debt crisis and prevent it from spreading to other countries. a meeting of finance ministers from 17 countries that share the single european currency opened talks in brussels on friday. at the meeting they plan to review the additional aid for greece they agreed on in july. the ministers will consider asking commercial banks to accept losses in their greek government bond holdings and are hoping to strengthen the capital base of banks in the region and bolster the european financial stability facility that's designed to support euro members facing financial trouble. the finance ministers of the

it mean for the future of the dollar as the world's. reserve currency well this i think is the background to the situation between the euro the dollar in the last two and a half years the in my view the greek crisis was. a ticking time bomb that was detonated. at the time the chinese government spoke of diversifying out of the dollar into the euro the euro right now is the only potential contender for reserve currency status for the u.s. to the u.s. dollar and where that to happen that the u.s. loses reserve currency status that would mean that the u.s. would lose one of the major pillars of wall street financial power worldwide and they would you leverage here are the major levers and also they wouldn't be able to finance their wars given the budget deficit so running. ironically the chinese with their investment in u.s. treasury debt and the japanese are financing wars against chinese national interests in afghanistan and iraq and now in libya so it's a very very diabolical situation with austria and the treasury of manufacturers if t

despite the intervention, the dollar continues to lose ground against the yen in european trading. earlier on monday, the u.s. currency has surged nearly 4 yen to climb into the mid-79-yen level after japanese authorities stepped into the market. right now, the dollar is trading at 78.02 to 03 yen. market participants say japanese authorities bought a substantial amount of dollars to send a message that they are determined to stop the yen's further advance. they added, however, that the market action apparently has not made a fundamental difference in the yen's uptrend, but has been triggered by the uncertainties over the u.s. and european economies. now, tokyo stocks fell on monday. the decline came despite japan's currency market intervention that pushed the dollar up against the yen. the benchmark nikkei average slipped below the 9,000 level to close at 8,988. that's down 62 points or 0.69% from last friday. market sources say share prices rose temporarily after the currency intervention halted the yen's advance against the dollar. stocks trended lower in the afternoon, however.

so, you have to eliminate the dollar bill? ut yes. >> reporter: there's an army of special interests fighting it out. ink and paper lobbyists want to keep the paper dollar. so does the mt. vernon ladies association. they like george on all those bills. on the other side, lobbyists for mining and vending machine companies. they want coins. if the government can save a few billion by sending george to retirement, it may be time to start using those coins. jonathan karl, abc news, washington. >>> and when we return, brave marines, their sacrifice forgotten until today. low back pain.ss chroc imagine living your life with less chronic osteoarthritis pain. imagine you, with less pain. cymbalta can help. cymbalta is a non-narcotic treatment that's fda-approved to manage chronic musculoskeletal pain. one pill a day, every day, can help reduce this pain. tell your doctor right away if your mood worsens, you have unusual changes in mood or behavior or thoughts of suicide. antidepressants can increase these in children, teens, and young

. >>> the yen hit an all-time high against the dollar on friday. it reached 75.78 at one point in new york. the highest before, 39.95. -- 75.95. market sources say expectations that leaders would come up with ways to ease concern about europe's debt problems let investors the sell the dollar and buy the euro. another factor, growing concern about the economy. the yen came to be seen as a relatively safe currency. another factor is growing concern about the outlook for the u.s. economy. the yen was seen as a relatively safe currency. >>> in september last year, the japanese government and bank of japan intervened in the foreign exchange market for the first time in six and a half years. the green back continued to fall against the yen. yen buying accelerated on march 17 after the massive earthquake and tsunami in japan. the dollar briefly fell to 76.25 yen. the lowest it had been in nearly 16 years. the japanese government and bank of japan began to have intervention with other countries. it held down the yen, but the dollar gradually fell because of

be weakened so i don't but i do think that's an issue the strings the dollar but i think we should put it into perspective it's not the only thing you know there are other factors to consider there are other factors to consider but it sounds like care if they are considering this to be something that would help homeowners we can both agree it's not necessarily or even really going to do that thank you so much for being on the show that i appreciate it's nice to see you here on the capital account and that was to start he is the deputy editor of business insider he also is a twitter extraordinary and he never sleeps to bring out latest news. all right so we started the show with and went through all of the very important serious economic and financial headlines that we really think you need to know and look at in depth now here are some that we think you need to know before entirely different reasons these are just really interesting so i brought our producer and contributor and blogger extraordinary dimitri on to the set so that we can talk about these togethe

the dollar bill. ocking, but yes. >> reporter: there's an army of special interests fighting it out. ink and paper lobbyists want to keep the paper dollar. so does mt. vernon lady's association. they like george on all the bills. on the other side, lobbyists from mining and vending machine companies, they want coins. if the government can save a few billion by sending george to retirement it may be time to start using those coins. jonathan carl, abc news, washington. >> i know it saves money. but i like the bills better. there is something about paying with bills. and it doesn't feel like real money. feels like it is not worth as much. >> if we can save $6 billion, country hurting for cash, go ahead and do it. i am shocked there are lobbyists on either side. is there, is there lobbying behind anything? everything has a lobby. amazing to me. >> money, money, money. >> that's our democracy. >>> well, if you have a fear of germs, get ready to squirm. a study reveals the dirtiest surfaces in public. the pe

the dollar is currently trading between 76.07 to 09 yen currently. >>> time to check on some stories we've gathered from broadcasters around asia. we begin tonight with this item sent by btv, bangladesh. the bangladhi governmt is stepping up efforts to boost law enforcement by purchasing new equipment and training persnel. the country's elite rapid action battalion or rab will acqui two u.s.-made helicopters next year. the seven-seat choppers have speed of 250 kilometers per hour. and are already used in 50 countries. >> once the two helicopters are inducted and in operation, it will certainly enhance our overall capability. >> the r.a.b.s are also acquiring other vehicles and high-tech equipment to modernize the country's police force. >>> hong kong authorities have earmarked $64 million u.s. to set up an international cuisine training institute. besides developing professional chefs, the school aims to promote catering, tourism and wine training. chief executive donald sang said he wants to develop the territory into what he called the ultimate food paradise. under the plan, 12,000-

the dollar marked a record low of 75.78 yen in new york on friday. on monday, it gained ground and was treated in the lower 76 yen range in both tokyo and london. however, in new york on monday, the dollar fell to 75.99 yen at one stage. this prompted investors to sell the greenback against the yen as they speculated that the fed may take additional money-easing measures. market sources say that investors' focus now is on the outcome of wednesday's eu summit. this comes after the dollar was sold in new york overnight following a report that frb executives had accepted an idea of additional money-easing measures. >>> and let's now get a check on the tokyo markets. overnight, u.s. stocks ended higher as hopes for early resolution to the euro zone debt issue and strong earnings from caterpillar boosted investor confidence. to see how stocks are kicking ofhere in tokyo, let's go to our reporter at the tokyo stock exchange. ramin, good morning. what can we expect today? >> good morning. yes indeed. markets expecting a lot out of the upcoming meeting of the

scam beyond the reach of the law now citibank's got another billion dollar scam trillions and trillions of scams every week yes but look at the man in northern ireland he gets sentenced to prison time here city gets to agree to pay two hundred fifty million dollars as if somehow they have the upper hand in the situation fraud as william k. black constantly tells us is a crime these people should be doing time it's amazing this legal convention that they don't have to admit wrongdoing they pay. fine so obviously they did wrong but they don't have to admit to doing wrong is this why is this because they're afraid that if they had to admit doing wrong at citigroup had a compound say we committed fraud that the depositors would there would be a run of the bank and this would cause systemically systemic instability well i think though isn't there that is that the fact that by allowing a major corporation to pretend as if they haven't committed fraud representing systemic risk to the system isn't that something that maybe the justice department should figure out t

leave the dollar bill alone. if you're going to get rid of anything, get rid of the penny. ey're filthy. [ laughter ] if it isn't worth bending over to pick up, it isn't worth making. and if you want a dollar coin, it's very simple. you get four quarters, you chew three pieces of gum and you squeeze them all together like a little money club sandwich. that's what jesus did. and if it was good enough for jesus, it's good enough for you. thank you. and god bless america. [ cheers and applause ] good night, everyone. good night. thank you. hey, you know -- i'm right, right guillermo? >> yes, jimmy. >> jimmy: thank you. he wasn't listening at all. you know who would be upset about this dollar thing? andy rooney. on sunday, andy rooney will make what they're calling his final regular appearance on "60 minutes." he's 92 years old. he said he's retiring so he can spend more time with his family and his family announced they're going back to work to spend less time with andy. [ laughter ] you know when andy rooney was born, he was already 64 years old. that's true. [ laughter ] most

the dollar is moving in aro range, however. investors are growing more cautious abo psie inrvtion by japanese authorities. > u.s. hedge fund -- a ai a u.s. hujen fx concepts spoke to nhk onhe yes reth >> the real reason japan is stngs rhs ebrkdn in the europeanur negotiations. and the united states, because if we do a qeveutng re money in there, that will make the dollar weak, which will make the yen relivy ro. i mean, our attitude is is that the u.s. is going into a receio >> he also said japan will n blo ask europe to intervene jointly because the unn prcciewi tir own problems. he noted even if jan does intervene alone, positive results are not expected. >>> meanwhile, japanese business leaders expressed concern on t yes sticur. >>ranslator: the level of the yen far exceeds what japes mafacturers can deal with. we may have to think about moving our production overseas if the yenemnst e rrt ve tnstor:any think electronics makers will stop producing in janntel if the dollar falls below the 75 yen mark which is probably the final

thirty cents for the price of copper and maybe fifteen or ten dollars for the price of oil today in this world we're sitting with oil at one hundred ten dollars in terms of how it's priced in europe and we're sitting with copper well over three dollars a pound i mean these are prices that are possibly ten times higher than we could have a reason reasonably expected based on current economic conditions in europe and in the united states you know therefore you have to conclude that you know this rampage his appetite for commodities that china now has and will continue to have has really been a massive massive headwind in terms of how americans live and it's not going to let up if anything it's going to get worse because part of this appetite that china has for commodities comes from the fact that they see the writing on the wall and they probably saw twenty years ago that you're not going to build a sustaining me on hydrocarbons it's just that simple i don't know whether we're at peak oil or peak this or peak that but sooner or later you're going to get to the point where you're not going

leave the dollar bill alone. if you're going to get rid of anything, get rid of the penny. ey're filthy. if it isn't worth bending over to pick up, it isn't worth making. and if you want a dollar coin, it's very simple. you get four quarters, you chew three pieces of gum and you squeeze them all together like a little money club sandwich. that's what jesus did. and if it was good enough for jesus, it's good enough for you. thank you. and god bless america. [ cheers and applause ] good night, everyone. good night. thank you. hey, you know -- i'm right, right guillermo? >> yes, jimmy. >> jimmy: thank you. he wasn't listening at all. you know who would be upset about this dollar thing? andy rooney. on sunday, andy rooney will make what they're calling his final regular appearance on "60 minutes." he's 92 years old. he said he's retiring so he can spend more time with his family and his family announced they're going back to work to spend less time with andy. [ laughter ] you know when andy rooney was born, he was already 64 years old. that's true. [ laughter ] most of the corre

of the reserves they're not research elating in that sense they keep the u.s. dollar you went pegged in place so china is really i would say the biggest obstacle to be here. yes being able to grow its economy again. how is that going to play out in your view gail going forward well i think there's another aspect to the chinese economy too and that is that at least their internal rose has been propped up with a lot of debt of their own building all kinds of apartment buildings everywhere i was just over there in may and saw for myself how much building had gone on but there are all kinds of government projects and there's a lot of debt that underlies all of this and so china needs growth to support all of its debt as well but what's happening is that its customer base is slowing down in the price of its coal it's fine is rising the price of oil prices rising as well so it's starting to feel some effects so there are some definite issues with china actually being able to keep up the pattern that it's head in the past and it may start getting ready for a recessionary imp

two full disclosure i own the u.s. dollar on your network or that i own the u.s. dollar one reason it hasn't is because first of all there were so many people who stole the dollar that all the people to short the dollar they got to bring that wasn't back that and the rest of the world through and many people wrongly in my view wrongly leap to the u.s. dollar as a safe haven i always i don't know didn't pay when i was a kid i just assume everybody else is going to run there it could go much higher for a while so you want to because you think everybody else has done. i don't know whether they're done that's your whether you're a good reporter i'm sure i know it because i know that standard reaction is because of confusion to run to the u.s. dollar it is the wrong thing to do in my view but i know the old adage you know what so i've got it i really didn't live as i told you all before was ok everybody was so restless to go into dollars and i have failed in my career when everybody's own one is bad but you should go to the other side for a while so i told you i thought

what is your outlook for the euro and dollar-yen? >> i think presumably, the ecb is -- is possibly cutting interest rates, you know, even though they cannot easily increase quantitative easing so i think that there are some risks for the euro to continue to slide from here. in that situation, i think the yen will continue to appreciate in effective terms, so i think the boj may need to do something in terms of easing decision and today's b.o.j.'s meet willing be the focus in that sense. >> i see. so much to look for in the markets. thank you so much for joining us. that was hiros everythe chief e from credit suisse japan. >>> u.s. stocks closed higher. tokyo markets just opened. let's see how stocks are kicking off this thursday morning. live now to ramin melegaard. we just heard from shinarka? >> markets point to see how the full details of those proposed plans play through the markets today and the repercussions for the yen. let's look at the opening levels for the nikkei and topix. both indices trading higher, 8,791. up 42 points f

the japanese currency briefly rose to 75.67 yen against the dollar, surpassing the record high set on the previous day. this comes as investors reacted positively to the fiscal measures adopted by the european union designed to contain the region's debt crisis. moves to buy back the euro and dollar followed by leaders to write down greek bonds and expand the european stability facility. market sources say investors were relieved by the eu package and the focus of attention is on whether the bank of japan will intervene in the currency market. speculation that the u.s. federal reserve may take additional measures to ease monetary policy is spurring moves to buy the dollar and yen. now that it is changing hands between 75.95-99. >>> u.s. stock prices surged after eu leaders agreed on comprehensive measures to deal with the debt crisis in europe. >>> another supporting factor was data on the u.s. economy released thursday. gross domestic product from july to september was up 2.5% from the previous quarter. >>> let's check on the european stocks. you can see the three indices ended in the

have a bad on the stronger dollar. secular are the markets fairing now those which are trading of course are commodity markets in the states nor was losing ground sliding deeper into the red after dropping to the slowest in more than a year on monday concerns about the global demand of the beach reports from u.s. manufacturing and construction spending brant is now once again below one hundred dollars per barrel light sweet is a seventy five and. they were storks dropping sharply off the shoes days release of the federal reserve chairman ben bernanke is prepared to meet for congress he had them not to not be forecast about the jobs market therefore bags are saying a big part expecting the worst tech stocks in general fairing better but apple is four point six percent low as it of veils the new i phone four s. . russian stocks also ended the choose day session a deep in negative territory investors concerned the contagion from europe's debt crisis will hurt manufacturers and the row demand for commodities for a look at t