The Japanese Yen and the American dollar on Tuesday are again the leaders for the trading day on the Asian trading market and in other worldwide markets as well. Due to the concerns regarding the swine flu, many traders are going for the safe-heaven a currency, among which is the Yen. This currency is as for now, the least affected by the swine flu outbreak, and is very likely to be capable to keep the disease away from its shores because of its geographical positioning (Japan is an island, thus spreading of the swine flu to here overseas is much less likely).
But the Japanese Yen rates went down somewhat, as the reports of the Central bank and the Citi bank were reveled, showing the United States regulators are planning to raise the capital of these banks. Due to this news, the US dollar and the Japanese Yen pair which was previously traded at the level of 96.61, fell down to 95.98 in the second part of the trading day on the Asian market.
The Euro has fallen to 126.00 against the yen in the morning, and kept dropping down to 124.65 by noon-time. Euro and USD pair came to the level of 1.3000-1.3031 and stayed in this range throughout the whole session, and then hitting lows at the end of the Asian market at the level of 1.2984.
No comments:
Post a Comment