The Japanese yen rose against all other major currencies today on Forex as the stock markets declined in Asia and Europe, while the investors became concerned about more losses from the mortgage crisis worldwide.
The Japanese yen showed some really strong growth against the other Forex most-traded currencies today as the investors favored the Moody’s upgrade of the Japan’s yen debt rating.
The Japanese yen fell significantly today against the other major world currencies as the fast growth on the Asian and European stock markets attracted more participants to the carry trade activities.
The Japanese yen gained today against its usual carry trade counterparts as the markets worried about the Lehman Brothers loss, which might be signaling for a financial crisis deepening.
The pound sterling posted today its biggest drop against the U.S. dollar since May 7 as the speculations that Bradford & Bingley Plc, the largest mortgage lender in U.K., will have to raise more capital, indicated a worsening in the real estate market crisis.
Today the U.S. dollar continued to head for its second monthly gain against such currencies as the euro and the Japanese yen as the country’s economical situation showed some improvement over the recent weeks.
The Japanese currency rose today on Forex during the Asian trading session as the stocks market drop spurred carry trade sell-offs and the liquidation of the yen-based high-risk assets.
The Japanese yen continued its growth today after the late yesterday release of the GDP report showed that the gross domestic product rose much better than everyone expected.
The Japanese yen continued its fall against the high yielding currencies today, especially against a very strong bullish euro, and reached 3-month minimum value against it, as the stock market rallies spurred carry trade popularity on Forex.
The Japanese yen is holding steady on the Forex market today after interest rate was left unchanged at 0.5% and the stock markets fell slightly.