Forex News: Yen Climbs In Trading With Major Counterparts, Monday, August 13, 2007 5:28:22 PM

Monday, August 13, 2007

Yen Climbs In Trading With Major Counterparts, Monday, August 13, 2007 5:28:22 PM

The yen moved higher against the other majors on Monday in New York. The yen advanced amid choppy morning trading and then leveled off in the afternoon. Traders looked ahead to Japan tertiary industry index data, expected later tonight.

The yen was little-changed against the dollar on Monday morning in New York. The yen rose as high as 117.73 at 6 a.m. ET, but then fell back later in the morning and got as low as 118.55 at 11:30 a.m. ET. It moved back higher in the afternoon and the pair reached 118.25 at 5:15 p.m. ET. Traders mulled data showing U.S. retail sales increased modestly in July. Greenback traders looked ahead to a slew of news coming on Tuesday, including trade balance data and producer price index data.

The yen advanced against the euro on Monday in New York amid choppy trading. The Japanese currency climbed as high as 160.61 at 6:15 a.m. ET. It edged back lower for the next three hours to give back most of its gains before rallying again. The pair traded was level in the afternoon and moved at 160.92 at 5:20 p.m. ET. Traders looked ahead to German GDP data and French CPI data, expected Tuesday.

The yen advanced against the sterling on Monday in New York. The currency rallied beginning at around 2:30 a.m. ET and got as high as 236.51 at 6:15 a.m. It fell back for the next few hours before leveling off. The pair traded at 239.91 at 5:20 p.m. ET. Traders looked ahead to Japan tertiary industry index data, expected later tonight.