Monday, April 23, 2007

Dollar Down Against Yen, Higher To Rest Of Majors Early Monday In New York, Monday, April 23, 2007 4:47:19 AM

The US dollar showed mixed trading during the very early deals on Monday in New York. While the greenback moved up against the euro and the sterling, it was down against the yen during this period. Meanwhile, to the Swiss Franc, the buck saw choppy trading.

Checking the downward journey, the dollar entered sideways trend against Japanese yen lately. Also, the buck moved out of the small morning uncertainty versus the Swiss Franc, and strengthened.

This came as no key economic data are expected from the major economies on Monday. A release in the Asian session showed that the Standard & Poor upgraded Japan`s foreign and local currency long-term sovereign debt rating from ‘AA-‘ to ‘AA`. The yen saw upward momentum across the board late Sunday in New York.

The US currency strengthened against the euro early Monday in New York. The pair lost ground at 1:00 am ET and moved from 1.3600. At 4:35 am ET, the euro fetched 1.3562 US dollars.

The US dollar posted gains versus the British currency early Monday in New York. The pair started moving downwards at 1:05 am ET, and after hitting as low as 1.9971 at 2:50 am, it bounced back briefly. However, the greenback regained its momentum shortly afterwards. At 4:35 am ET, the pair was worth 1.9994.

Around midnight, the US dollar held steady with the Japanese yen, but the pair lost ground at 12:40 am ET on Monday. Moving down from 118.65 the pair traded at 118.23 within about an hour. The dollar then moved sideways against its Japanese counterpart ranging between 118.28 and 118.40.

The US dollar saw choppy trading versus the Swiss franc as the deals entered the small hours on Monday. The pair bounced around between 1.2067 and 1.2081 until about 3:40 am ET. The buck advanced thereafter, and at 4:35 am ET, the dollar was quoted at 1.2093.
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