The Yen rebounded against the US Dollar today as investors speculated its latest three-day fall (Monday to Thursday) since November might have happened a little to prematurely (Bennet & Meakin, 2012).
The Yen rose 0.2% to 83.57 to the dollar and ended its four-month decline yesterday. Unfortunately gainst the Euro, it fell 0.2% to 109.32.
The pound also weakened against the Euro the past three days and so did the NZD as the nation's manufacturing expanded since 2010 (Bennet & Meakin, 2012).
In other reports, the AUD rose against the USD. However currency strategists at the Bank of New Zealand states that all these rises and strength in the New Zealand economy data will mean that the Aussie-Kiwi is continue to shift lower. The reason he says is because “investors will look to play the stronger New Zealand economic view through the Aussie-kiwi cross, rather than against the U.S. dollar" (Bennet & Ishikawa, 2012).
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