Yen Falls for Third Day as Stocks Rise Before U.S. Factory Output Report

Yen Falls for Third Day as Stocks Rise Before U.S. Factory Output Report

Post by angelna ho » Thu, 16 Jul 2009 18:07:28

http://forexnews-4all.blogspot.com/2009/07/july-15-yen-and-dollar-wea...
July 15 The yen and the dollar weakened against the euro before a U.S.
report today that economists said will show the contraction in
industrial production slowed, damping demand for safer assets.
Asian currencies strengthened, led by South Koreas won and
Indonesias rupiah, as regional stocks gained and foreign- exchange
and equity-market volatility declined, spurring investors to buy
higher-yielding assets. The yen declined against 13 of the 16 major
currencies after the Bank of Japan lowered its forecasts for the
economy, reducing the appeal of the currency.
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