The Japanese Yen traded close to a 5-week peak versus the U.S. Dollar on speculation that there is growing pressure on Japan’s banks to raise capital. As reported at 6:51 a.m. (GMT) in London, the Yen was trading at 89.15 Yen against the U.S. currency, off of yesterday’s peak of 88.74 Yen in New York.
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US Plans To Dismantle Banking Giants
In a move which would make the blood of any true free-marketeer run cold, a key US House of Representatives committee has voted to give government the power to order that large banks be split up.
Japanese Yen Firms on Mixed Chinese Data
The Japanese Yen moved higher in Asian trading today, gaining against high-yielders following the release of mixed economic reports coming out of China.
EURUSD Stays Positive
EURUSD stays positive, however bulls are struggling to reach new highs, resistance level stays still active. However, further jumping is expected, but while support line holds – bulls have chances to recover. For now waiting is better option.
OECD Upbeat About Global Prospects In 2010
The Organisation for Economic Co-operation and Development has 30 member states drawn from developed nations and has the mandate to support economic growth, boost employment and contribute to world trade, amongst other things.