Monday, July 23, 2007

Japanese Yen Advances Against Majors In Early Asian Deals On Monday, Monday, July 23, 2007 1:41:35 AM

The Japanese Yen advanced against the other major currencies during the early Asian deals on Monday. The uptrend helped the Yen to fetch the 1 Ѕ - month high of 120.80 versus the dollar. However, against the other major currencies, the Yen reached the Friday`s level.

The British Rightmove house prices data for July released at 7:01 pm ET on Sunday is likely to have an effect on trading in the Yen against the Pound. According to the latest Rightmove survey results, the UK house prices rose slower in July.

No major key economic data is expected during the upcoming European session.

The Japanese Yen opened this week`s account versus the U.S. dollar at 121.26. During the late afternoon deals on Sunday in New York, the Yen edged down and touched 122.22 by about 4:00 pm Eastern Time. Soon after, the Yen bounced back and carried over its uptrend in the early Asian deals on Monday. The Yen collected the 1 Ѕ - month high of 120.80 at 9:30 pm ET and then moved sideways. As of 1:40 am ET, the pair was quoted at 120.98.

Against the Euro, the Japanese Yen ticked down on late Sunday afternoon in New York. But the Yen reversed the losses in the late deals and strengthened further during the early Asian session on Monday. The pair thus moved from 169.12 to 167.14 by about 9:30 pm Eastern Time. Lately, the pair has been trading sideways and collected 167.35 as of 1:40 am ET.

During the late afternoon deals on Sunday in New York, the Japanese Yen moved sideways versus the British Pound. At about 3:50 pm Eastern Time, the Yen fell briefly but it spiked higher within a few minutes. The uptrend helped the Yen to fetch the high of 248.53 by about 9:30 pm ET. Thereafter, the Yen lost a few pips and followed a sideways movement. As of 1:40 am ET, the pair was worth 248.98.

The Japanese Yen gained ground against its Swiss counterpart on late Sunday in New York. The Yen added to its gains in the early Asian deals on Monday and hit as high as 100.74 at 9:30 pm Eastern Time. The pair then moved sideways and fetched 100.86 as of 1:40 am ET.
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posted by Kalin Tasev @ 12:31 AM

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