The Japanese yen rose to its two-week high level against the euro and one-week against the Great Britain pound today as the stock markets tumbled yesterday in U.S. and continued to fall in Asia today.
The Japanese yen gained against the euro and other currencies on the Forex market today, making this week the first bullish one since May, as the stock markets declined world-wide spurring sell-off on the carry trade market.
The U.S. dollar fell against the Japanese yen today for a second day as the global financial markets expected the U.S. banks to report further losses and decrease the attractiveness of the world’s largest economy.
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 reached another record low level against the Eurozone currency today as the ECB prepares to raise rates in July, while Japanese spendings may go abroad to seek the higher yielding assets.
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 U.S. dollar recovered against the Japanese yen today after the dollar lost significantly against yen on Friday and this week trading opened with a wide gap against the greenback on Forex.
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 Japanese yen extended its decline against its traditional carry trade counterparts today as the Asian stock markets soared after the U. S. Memorial Day holiday ended.