April 9th 2012, Masaki Kondo & Monami Yui, Bloomberg.com
Happy Easter Weekend everybody! Hope you all had a great time with family and friends.
In today's currency news, the Yen rose against most of its peers including against the Euro as it hits a one-month low according to a German reports that showed declines in exports (Kondo & Yui 2012). The JPY climbed to 106.18 per Euro, the strongest it has been since March and ending at 106.46, rising 0.4% (Kondo & Yui, 2012). Against the USD, the JPY rose 0.2% while the EUR/USD fell 0.3%.
“The markets will likely remain risk-aversive, and the yen may continue to be bought as a haven,” said Toshiya Yamauchi, a senior analyst in Tokyo at Ueda Harlow Ltd., which provides currency margin-trading services. “People are focused on downside risks to the European economy, and the situation is unlikely to turn around” (Kondo & Yui, 2012).
To read the full article, go here:
Kondo, M & Yui, M 2012, Bloomberg.com
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