Global Markets: Asian shares rise
average opened up 0.5 percent at a fresh two-month high.
Moody's news is certainly not positive but market reaction seems contained, said Hiroshi Maeba, head of FX trading Japan for UBS in Tokyo, adding that trading was getting lighter ahead of the U.S. Thanksgiving holiday weekend.
Given the recent market rally, the rest of the week is likely to be spent on adjusting positions before the long weekend, with any uptick giving way to profit taking, he said.
Maeba expects the euro to remain pressured while the dollar will stay underpinned against the yen to hold above 81 yen.
The dollar eased 0.1 percent to 81.34 yen but held near its highest since April 25 of 81.59 yen touched on Monday.
The Bank of Japan ends a two-day policy meeting on Tuesday, and is expected to refrain from taking fresh policy steps.
Euro zone finance ministers are expected to give a tentative go-ahead for the disbursement of 44 billion euros in emergency loans to Greece at a meeting later on Tuesday. The money will only be paid on Dec. 5 if Greece meets all remaining conditions.
The ministers will also discuss how to reduce Greek debt and provide two extra years of external financing to help the country achieve its fiscal targets.
TAIL RISKS REMAIN
European equities rebounded from multi-month lows on Monday for their biggest daily gain in 10 weeks on signs of progress in U.S. talks to avoid a budget crisis. An unexpected rise in U.S. existing home sales
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