Wednesday, May 30, 2007

Yen Advances Against Counterparts On Wednesday Afternoon, Wednesday, May 30, 2007 2:27:28 PM

The yen advanced against its counterparts in trading on Wednesday afternoon in New York. The currency moved as Japan reported on automobile production for April.

Versus the euro, the yen saw strength heading into afternoon trading on Wednesday. The advance brought the yen to a mark of 163.05. On the whole, the Japanese currency is near a two week low against the euro.

The yen edged up in trading against the dollar on Wednesday afternoon. The currency rose to a mark of 121.46 as action progressed. Overall, the yen is still near a three and a half month low.

Against the sterling, the yen was strong in trading on Wednesday. The rise took the currency to a mark of 239.86 by the mid-afternoon action. Generally, the Japanese currency is at a weekly low against the pound.

Japanese automobile production fell 3.8% year-over-year in April. The number of vehicle produced totaled 870,639 units, smaller than 904,821 units last year.
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