Yen Weak Against European Counterparts, Choppy Versus Dollar, Tuesday, May 15, 2007 2:21:04 PM
The yen was mostly weak against its counterparts in trading on Tuesday, though it saw choppy action against the dollar. The currency moved as Japan released its March Machinery Orders.Versus the sterling, the Japanese currency saw weakness as trading advanced on Tuesday. The currency slid to 238.83 into the afternoon. On the whole, the yen is near a weekly low.
The yen was choppy against the American dollar on Tuesday afternoon. The Japanese currency moved between a high of 120.15 and a low of 120.54 as trading progressed. In general, the yen is coming down off a recent week and a half low.
In trading with the euro, the yen fell steadily in Tuesday`s action. The decline brought the yen to a mark of 163.58 by the mid-afternoon action. Overall, the currency is at a multi-year low.
According to a preliminary report released by the Cabinet office, Japanese core machinery orders fell 4.5% on month in March, following a 4.9% decline in the prior month. Analysts were looking for a 1.5% increase in March.
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posted by Kalin Tasev @ 12:17 PM
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