The exchange rate yen remains at medium level of support

Japanese problems did not weaken the yen

In brief: New problems of the Japanese economy does not give entrench yen. The level of support for the Japanese currency on the part of bulls is growing slowly.

The yen strengthened against all major currencies against the background of concern that the debt crisis in Europe was worsening, but recovery of the U.S. economy has a negative impact on the increase in demand for U.S. dollar as a currency of refuge.

Euro fell against the dollar for the first week after it was reported that the IMF, the EU and the U.S. Treasury created a joint credit program to assist Spain in the amount of 250 billion euros (307 billion dollars). However, the EU and the Treasury denied the rumors. Dollar declines against the yen over the three days. Assessing the mood in the market as a whole, currency analyst at UBS believe that in this situation, any disappointing news has a greater impact on events than positive messages.

Ukrainian Globalist
2010-06-16 21:47, Currency news.

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