Yen Arrests Declines Against Rivals
Friday, February 02, 2007 2:46:26 PM - The yen moved little overnight against its major rivals, but fell sharply in the early morning hours on Friday. The currency was able to earn back some of its gains. The yen traded on little major news from Japan.
The yen moved little overnight into Friday against the dollar. However, the currency fell as morning trading progressed. The yen reached a mark of 121.02 in the early morning hours and remained near that level into the afternoon. The yen has reversed the gains seen yesterday and remains in a two week range against the American currency.
The yen saw similar movement against the sterling. While moving little overnight into Friday, the yen fell to a mark of 238.22 through to the afternoon. However, the yen managed to earn back a portion of its gains. The yen has reversed gains from the past two days against the sterling, and remains within a two-week range.
Against the euro, the yen saw weakness as it moved into Friday’s morning trading. Though the currency moved little overnight, the yen fell to a mark of 157.66 in the early morning action. However, the yen was able to earn back more than it lost. The yen has returned its earnings of the past two days, and remains in a two week trading range against the euro.