Forex Updates- JPY gains against Euro
Tuesday, April 21, 2009
On Wednesday, according to Forex updates the JPY rose across the board as a recover in the Euro and commodity currencies faded with the market looking for clues about the condition of the banking systems as a key to long-term track.
The currency market is highly unpredictable at this moment, reversing steep moves from one day to next day and the Euro increased on Tuesday as a progress in German investor confidence raised stock markets and helped commodity currencies higher.
But that move ran out of steam and the market was unwilling to push the Euro, the USD or the commodity currencies got higher against the JPY in the wait for clarity on the US banking sector.
The Euro fell 0.1% to $1.2982, investing above this week’s 1-month low down at $1.2888 and fell 0.4% to 127.30 Yen after increasing nearly 1% on Tuesday.
The USD dropped 0.3% to 98.40 Yen after gaining 0.8% on Tuesday. It hit a 6-month high of 101.45 on April 6 but has slowly fallen since then.
On Tuesday, the AUD fell 0.8% to 69.43 JPY and 0.5%to $0.7062 after gaining 2% against the USD.
The currency market is highly unpredictable at this moment, reversing steep moves from one day to next day and the Euro increased on Tuesday as a progress in German investor confidence raised stock markets and helped commodity currencies higher.
But that move ran out of steam and the market was unwilling to push the Euro, the USD or the commodity currencies got higher against the JPY in the wait for clarity on the US banking sector.
The Euro fell 0.1% to $1.2982, investing above this week’s 1-month low down at $1.2888 and fell 0.4% to 127.30 Yen after increasing nearly 1% on Tuesday.
The USD dropped 0.3% to 98.40 Yen after gaining 0.8% on Tuesday. It hit a 6-month high of 101.45 on April 6 but has slowly fallen since then.
On Tuesday, the AUD fell 0.8% to 69.43 JPY and 0.5%to $0.7062 after gaining 2% against the USD.
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