Wednesday, April 25, 2007

Yen Inches Back Towards Record Trough Versus Euro; Range-bound To Other Majors, Wednesday, April 25, 2007 7:09:50 AM

The yen stayed near an all-time low from earlier in the month against the euro Wednesday morning in New York. Data released overnight showed Japan`s trade surplus hit a record high in March.

The yen edged towards a record low against the euro Wednesday morning in New York, falling to 161.98 from an overnight level of around 161.50. German business sentiment improved more-than-expected in April, a closely watched survey indicated Wednesday.

The yen continued to see choppy dealing against the dollar Wednesday morning in New York, trading in a range between 118.30 and 118.70. Market players await U.S. durable goods data and the Fed`s Beige Book later in the day.

The yen pared most of its gains from the previous session against the sterling Wednesday morning in New York, slipping to 237.99 after reaching 236.90 Tuesday night. Traders considered data showing that the U.K. real GDP beat expectations to grow 0.7% in the first quarter of 2007.
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