Forex News

The Japanese yen declined today against the U.S. dollar and the euro as the signs of the economic recovery in the U.S. prompted the investors to leave the safe currencies in favor of the higher-yielding ones.

The Dow Jones Industrial Average rose by 1 percent yesterday after FedEx Corp., the second-largest package-shipping company in the U.S., raised its earnings forecast for the quarter and for the year. The forecasts also suggest about improving consumer confidence in Germany and increasing number of the durable goods orders in the U.S.

USD/JPY went up from 87.37 to 87.36 today as of 9:19 GMT. EUR/JPY traded at 113.43 after it jumped as high as 113.70.

If you want to comment on the Japanese yen’s recent action or have any questions regarding this currency, please, feel free to reply below.

Earlier News About the Japanese Yen:

• Japanese Yen Recovers as Markets Prepare for Risk Aversion (2010-07-21)
• Pessimistic Outlook for U.S. Economy Bolsters Yen (2010-07-16)
• Losses of Japanese Yen Continue for Yet Another Day (2010-07-08)
• Yen Reinforced by Increasing Concern for Global Recovery (2010-07-07)
• Risk Sentiment Improves, Driving Yen Down (2010-07-02)

This entry was posted on Tuesday, July 27th, 2010 at 11:20 am and is filed under Japanese Yen. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.