Forex News

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 U.S. dollar extended its gain against other major currencies on Forex today as the investors expect higher April CPI figures from the report that will be released today at 12:30 GMT.

Today the yen fell for the second day in a row on Forex as the stock markets rallied and the traders looked for the more high-yielding assets, selling the Japanese currency for dollar and other risky currencies.

The U.S. dollar continues to head for the first monthly gain against its European counterpart this year as the market participants await the FOMC rate decision and a statement that are scheduled for release today.

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.

The U.S. dollar is heading for the fastest weekly gain in more than four years versus the Japanese yen as the financial markets get a feeling of relief from the crisis.

The U.S. dollar stopped its 2 days growth period and started to go bearish against other currencies today after the Asian trading session ended. Investors’ attention turned to the Fed chairman Ben Bernanke’s testimony before the U. S. Congress that is scheduled for today.

The Japanese yen declined today from its recent high values against the U.S. dollar, pound and euro as the global stock markets gained and the high-yielding assets looked more attractive than on the last week.