Wednesday, June 27, 2007

Yen Rises Against World Counterparts In Action On Wednesday, Wednesday, June 27, 2007 2:33:28 PM

The yen saw strength on Wednesday as it traded against its major world counterparts in New York. The currency moves as retail sales were released for May.

The yen advanced against its American counterpart in trading on Wednesday afternoon. The currency rose to a mark of 122.46 early on and remained strong into the afternoon action. In general, the Japanese currency is near a two week high.

Versus the sterling, the Japanese currency saw strength on Wednesday afternoon. The currency rose in the first few hours of the day, and remained near a mark of 244.65 as trading continued. On the whole, the yen is at a two week high.

The yen climbed against the euro in the first few hours of trading on Wednesday. As trading moved into the mid afternoon, the currency moved little against the euro as it stuck near a mark of 164.53. Overall, the Japanese currency is at a two week high versus the yen.

Japan`s retail sales rose 0.1% on year in May, for the first time in eight months. The latest result was consistent with the revised GDP data for the first quarter, which indicated signs of a recovery in consumer spending as it grew 0.8% during the three month period.
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