Investor speculation that Japan’s central bankers will permit the continued appreciation of the Japanese Yen led to that currency’s 14-year peak against the U.S. Dollar in trading in Asia.
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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.
Japanese Yen Nears 5-week Peak on Potential Changes to Capital Requirements
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 Holds onto Gains on Profit-taking
As reported at 10:23 am in Sydney, the U.S. Dollar held onto small gains in Friday’s Asian trading following another round of investor profit-taking.
Kiwi surges against U.S. Dollar
Commodity linked currencies, led by the New Zealand Dollar, moved sharply higher versus the U.S. Dollar in Monday’s trading in Sydney.