Yen Falls Versus Other Major Currencies, Wednesday, August 08, 2007 12:47:56 PM
The yen dropped against the majors on Wednesday in New York after Japan`s Cabinet Office revealed that the nation`s core private sector machinery orders declined 10.4% in June compared to a 5.9% increase in the previous month. The yen dropped to its lowest levels in around two weeks against the dollar, euro and pound.The yen fell to a two-week low against the dollar on Wednesday in New York. The dollar edged higher starting Tuesday afternoon and continuing through Wednesday morning. It added sharper gains in the later morning. The pair traded at 119.78 at 12:30 p.m. ET.
The yen was weaker against the euro on Wednesday in New York and hit a two-week low. The European currency began to fall at around 2:30 a.m. and trended lower for most of the rest of the morning. It traded at 165.28 at 12:40 p.m. ET. Japan`s Cabinet Office revealed today that Japan`s core private sector machinery orders declined 10.4% in June compared to a 5.9% increase in the previous month.
The Japanese yen fell below a support level against the sterling on Wednesday in New York and reached its lowest level in nearly two weeks. The currency began to fall at around 2:15 a.m. ET and continued to do so for about nine hours before stabilizing. The pair was at 243.78 at 12:45 p.m. ET. Japan`s Cabinet Office revealed today that Japan`s core private sector machinery orders declined 10.4% in June compared to a 5.9% increase in the previous month.
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posted by Kalin Tasev @ 4:24 PM
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