Yen Strong Against Major Counterparts, Thursday, August 09, 2007 12:51:12 PM
The Japanese yen saw strength on Thursday in New York as Japan recorded a foreign capital inflow of 894.2 billion yen on domestic securities for the recent week. The yen moved away from recently-visited lows against the euro, dollar and sterling.The yen gained versus the pound on Thursday in New York. The Japanese currency moved higher against the British currency for several hours, hitting as high as 239.01 at 9 a.m. ET. It slipped back to 240.45 by 12:45 p.m. The drop took the yen away from the two-week low it reached on Wednesday. Traders considered data showing that the UK trade deficit had narrowed to 3.6 billion pounds in June.
The yen advanced against the euro on Thursday in New York and found a nine-day high. The currency began to rise at around 2:30 a.m. ET and moved as high as 161.51 at 9 a.m. ET. It slipped back to 162.43 by 12:40 p.m. ET. Trading took place after the ECB stepped in to offer cash to borrowers after the overnight lending rates moved to their highest level in nearly six years.
The yen moved higher against the dollar on Thursday in New York and moved away from a two-week low. The Japanese currency began to rally at around 2 a.m. and has continued to move higher throughout the morning. It moved to as high as 118.22 at 9 a.m. ET. It cooled back to 118.73 at 12:40 p.m. ET. Traders considered weekly jobless claims data from the U.S. that came in higher than expected.
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posted by Kalin Tasev @ 2:18 PM
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