Yen Advances Versus Major Counterparts, Friday, July 27, 2007 7:02:53 AM
The yen advanced against its major counterparts Friday morning in New York. Japanese currency investors mulled data showing that core consumer prices fell as expected during June.The yen edged higher versus the dollar Friday morning in New York. The Japanese currency advanced during the early morning, reaching an intraday high of 118.42 at 3:00 am ET. The yen gave back some of its gains over the next few hours to trade at a mark of 119.03 at 6:40 am. Greenback traders looked ahead to Friday`s release of American GDP data for the second quarter.
Against the euro, the yen advanced Friday morning in New York. After losing ground late Thursday, the Japanese currency rebounded during the early morning. After a hiccup just before 4:00 am ET, the yen continued to climb. At 6:40 am, the Japanese currency traded at an intraday high of 162.34. European currency investors mulled data showing that German consumer confidence was stable in July.
The yen climbed versus the sterling Friday morning in New York. After dropping late Thursday, the Japanese currency began to advance in the early morning. The yen pulled back from some of its gains just before 4:00 am ET, before gaining again after 5:00 am. At 6:45 am, the Japanese currency traded at a mark of 241.67 against its British counterpart.
Japan`s CPI fell 0.1% in June, falling for the fifth straight month, the Ministry of Internal Affairs said Friday. 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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posted by Kalin Tasev @ 4:36 AM
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