FX: U.S. Dollar Gains against Japanese Yen in Light Asian Trading
In Asian trading today, Japanese importers helped to push the U.S. Dollar up versus the Japanese Yen; as reported at 3:45 p.m. (JST), the U.S. Dollar traded at 87.96 Yen, up from Friday’s New York trade of 87.70 Yen. Though the currency market is expected to see light trading today as a result of a holiday in the United States, many market players expect the U.S. currency to decline, perhaps even to 85.00 Yen, later in the trading week, as and when new U.S. economic data is released. On Thursday, the weekly report on new jobless claims will be issued and investors will look to it for an indication of the economy’s recovery; this past Friday, data showed that the unemployment rate in the... Full Story
