Yen Varied In Action Against Counterparts On Wednesday, Wednesday, May 16, 2007 2:19:27 PM
The Japanese currency was varied in trading against its counterparts on Wednesday. The currency moved as Japan released economic data regarding consumer confidence.Versus the sterling, the yen saw little decisive direction on Wednesday. The range held the yen between a low of 239.30 and a high of 238.58. In general, the Japanese currency is near a weekly high against the currency.
In trading with the euro, the yen rose sharply in action on Wednesday. The currency advanced to a mark of 163.17 in the mid-afternoon action. Overall, the yen is coming up off a recent 10 day low.
The yen saw weakness against the dollar in trading on Wednesday. By the mid-afternoon, the currency had declined to a mark of 120.72. On the whole, the Japanese currency is at its lowest point since late February.
Japanese consumer confidence index improved to 47.4 in April. Economists expected a reading of 48.6.
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posted by Kalin Tasev @ 1:19 PM
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