Friday, July 27, 2007

Yen Advances In Trading On Friday Afternoon, Friday, July 27, 2007 4:13:10 PM

The yen was strong in trading on Friday afternoon in New York versus its world counterparts. The yen advanced as Japan released CPI data on a national and Tokyo basis.

The Japanese currency moved little against its American counterpart in trading on Friday. The currency held in a range through to the afternoon between a high of 118.48 and a low of 119.23. Overall, the yen is at a 13 week high against the American dollar.

Versus the pound on Friday, the Japanese currency saw strength through trading. By the mid afternoon, the Japanese yen had advanced to a mark of 240.87. Overall, the yen is near a seven week high against its British counterpart.

The Japanese currency climbed against its European counterpart in Friday`s action. The yen rose steadily through the session to moved near 162.19 in the mid afternoon. Overall, the Japanese currency is near a six week high against the European currency.

Japan`s core annual Consumer Price Index fell 0.1% in June, falling for the fifth straight month. The result was in line with market expectations. The previous month also witnessed a decline of the same magnitude. The nationwide headline annual CPI remained unchanged in June, although the index edged up 0.1% over the prior month.
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