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 U.S. dollar showed the first daily growth against the euro in last four trading days after the U.S. Treasury Secretary Henry Paulson announced the government’s funding plans for the failing mortgage lending giants Freddie Mac and Fannie Mae.
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 U.S. dollar continued to grow today during the Asian trading session as the traders followed the Friday’s trend and are now expecting some hawkish commentaries from the next Ben Bernanke’s speech.
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 U.S. dollar dropped against the euro, pound and yen today after the Federal Reserve left the interest rate unchanged and released a statement showing no substantial signs that the rate can be raised by the end of the year.
The U.S. dollar declined today against the euro, extending its weekly drop, as the chances for the Federal Reserve to increase the interest rates next week became more slim.
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 rose against euro, pound and yen today, rebounding from the yesterday drop, as the market strategists expect a good report on the U.S. retail sales to support Fed’s hawkish interest rate outlook.