Yen Strong In Trading Against Other Majors
July 29, 2007 – 9:11 pmFriday, July 27, 2007 6:22:35 PM - The Japanese yen saw strength against the other majors on Friday in New York. The currency continued to rise against the euro and sterling and remained near a three-month high against the dollar. Trading took place as investors mulled data showing that Japanese core consumer prices fell as expected during June.
The yen was slightly up against the dollar on Friday and remained near a three-month high. The yen gained early in the morning and remained range-bound ahead of its overnight levels through the morning and afternoon. The currencies traded between 119.27 and 118.42 through the day. The pair traded at 118.76 at 6:15 p.m. ET. Traders considered data showing that the American GDP rose 3.4% during the second quarter.
The yen was up against the euro on Friday in New York. The Japanese currency rose throughout most of the morning, before cooling off. It fell back later in the morning but then climbed again in mid-day trading. The Japanese currency added further gains in the late afternoon and got as high as 161.52 at 5:15 p.m. ET. An hour later, the pair traded at 162.02. Trading took place amid the release of data showing that German consumer confidence was stable in July.
The yen continued to advance against the sterling on Friday in New York. The Japanese currency rose in the overnight hours and then added further gains at around 5 a.m. ET. It climbed again in the late morning and again in the afternoon. It got as high as 239.72 at 4:45 p.m. ET. It was at 240.36 about 90 minutes later.
Source: www.forex-markets.com
