Majors Hold Back Late Evening Gains Versus Yen Through Later Deals Thursday In New York, Friday, April 20, 2007 1:09:47 AM
After losing heavily across the board in the late evening, the Japanese yen bounced back briefly but fell back to the previous lows, shortly. The yen picked up a few points against its major counterparts, thereafter.The losses suffered by the Japanese currency in the late evening hours were likely caused by the Japanese economic data released then. According to the release came out at 7:50 pm ET, Japan`s All Industry Activity Index rose 0.9 % to 107.7 in February from 106.7 in the previous month on seasonally adjusted terms. The analysts expected the index to decrease 0.3% in March.
The Japanese yen started bouncing back to the US dollar at 9:00 pm ET on Thursday. This moved the pair from 118.79 to 118.55 by about 10:40 pm. The pair rebounded thereafter and equaled the previous high within about an hour. The yen then picked up a few points, and the pair was quoted at 118.66 as of 1:00 pm ET on Friday.
Following a fall in the late evening deals, the yen gained ground against the euro at 9:00 pm ET on Thursday. Coming off 161.76, the pair fetched 161.35 at 10:25 pm before changing its direction. The yen fell back to its previous low by about 11:35 pm, but it gained some points afterwards. At 1:00 am ET on Friday, the euro was quoted at 161.56 against the yen.
The Japanese currency started reversing its late evening losses against the British pound at 9:00 pm, Thursday in New York. Moving from 237.97 the pair traded at 237.31 by about 10:25 pm ET. The pair then moved in the opposite direction. At 11:40 pm, from 237.88, the pair started trending lower slightly. At 1:00 am ET on Friday, the sterling was equal to 237.64 yen.
The Japanese yen reversed its late evening downward trend against the Swiss franc at about 9:00 pm, Thursday in New York. This moved the pair from 98.585 to 98.32 by about 10:20 pm. The yen gave back these gains within an hour of that but ticked up into the later deals. As of 1:00 am ET on Friday, the pair was quoted at 98.4550.
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posted by Kalin Tasev @ 1:08 AM
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