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.
U.S. Dollar edges up Off of 15-month Low, but Downtrend Continues
The slide of the U.S. Dollar continues the 15-month downtrend in Sydney trading today, reinforced by the Federal Reserve stance to maintain the status quo. On Monday, the Chairman of the U.S.
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Chinese Yuan Rhetoric Heats Up while U.S. Dollar Index Falls
The “official” rhetoric regarding the possible appreciation of the Chinese Yuan continues while market players’ belief of the same receded.
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