ONE: Forex trading sees dollar fall further against yen
Online Forex trading saw the US dollar fall on Monday (September 6th) after the currency failed to capitalise on positive jobs data, with some analysts predicting that it is close to hitting a 15-year low against the yen.
Reuters reports that data on US payrolls published at the end of last week went some way towards easing anxiety among traders over the chances of a double-dip recession.
Although demand for growth-linked currencies increased as a result, the dollar continued to look vulnerable against the yen and also reached a three-week low against the Euro, which climbed.
Gareth Berry, a currency strategist at financial services company UBS, told the news provider: "We are seeing some relief from fears about a double-dip recession in the US helping risk sentiment and the euro.
"But whether this sentiment can be sustained or not is difficult to say."
On Friday (September 3rd), Forex specialists indicated that the yen will soon begin to drop against the dollar because of ongoing efforts by the Bank of Japan to dampen its appreciation, which have so far have limited effect.
