Monday, July 25, 2011

Nikkei falls, stronger yen prompts cautious mood

TOKYO: The Nikkei average snapped a three-day run of gains on Monday as a stronger yen dragged down exporters, while investors stayed on the sidelines ahead of a slew of earnings reports due later this week.

Analysts said falling U.S. futures also soured the mood as the U.S. government's failure to win an agreement on the debt ceiling makes prospects of a default, once considered an impossible outcome, more likely.

The Nikkei shed 0.5 percent to 10,081.81. The broader Topix was down 0.4 percent to 865.26. ' Reuters

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