By David Becker The dollar has traded in a tight range against the yen, finding support near JPY83.00. The Yen has not benefited from safe haven flows even though the market is monitoring developments in Libya, Bahrain and Yemen. S&P made the decision to cut Bahrain’s rating to A-/A-2 and leave placing it on negative [...]
Tag Archives: jpy
Yen Consolidates on Contracting Japanese GDP
By David Becker The Yen consolidated after rallying for most of last week, after as expected GDP growth in Japan was offset by a favorable US interest rate differential.Japans economy contracted in the fourth quarter by .3%. The reduction in growth was largely due to a sharp fall in household spending -0.7% in the current [...]
Merrill Lynch:Japanese Yen expected to Weaken
By Barbara Zigah The Japanese Yen has been steadily weakening against most major rivals this week and analysts say it can be attributed to a variety of things, among them a move by investors into higher risk currencies and the unwinding of long positions in the currency.The latter won’t come as any surprise to the [...]
