Yen Mixed Versus Major Counterparts Monday Morning, Monday, August 06, 2007 6:56:42 AM
The yen experienced mixed results against its major counterparts Monday morning in New York. The Japanese currency climbed versus the pound. Meanwhile, the yen ticked a little lower in trading with the dollar and euro. Japanese currency investors mulled data showing that Japan`s leading index rose above the boom-or-bust level of 50 for the first time in eight months in June.The yen edged lower versus the greenback Monday morning in New York. After gaining some ground in the early morning, the Japanese currency started to drift lower before 3:00 am ET. At 6:45 am, the yen traded at a mark of 117.84 against its American counterpart. Greenback traders looked ahead to Tuesday`s Federal Reserve rate decision, which is expected to remain at 5.25%.
Against the euro, the yen fell Monday morning in New York. The Japanese currency retreated just after 2:00 am ET, before leveling off after 3:00 am. At 6:45 am, the yen traded at a mark of 162.75 against its European counterpart. European currency investors mulled data showing that Italian industrial production fell 0.5% in July from the previous month. Analysts had been expecting a 0.3% slide.
The yen advanced against the sterling Monday morning in New York. The Japanese currency slid during the early morning, but more than rebounded with a climb just after 3:30 am ET. By 6:45 am, the yen rose to a mark of 239.27 versus its British counterpart. This is compared to an intraday low of 240.69 at 3:30 am. Traders considered data showing that U.K. industrial production climbed 0.1% in June over month, matching analyst expectations.
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posted by Kalin Tasev @ 5:28 AM
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