Yen Stable To Other Majors Friday Morning []
Friday, March 09, 2007 6:55:11 AM - The yen was stable to other majors Friday morning in New York after data showed a bigger-than-anticipated 3.9 percent rise in Japanese machinery orders in January from the previous month.
Nervous trading left the yen little changed at 117.35 against the US dollar Friday morning in New York. Traders will look to Friday’s release of US jobs data for more clues on the interest rate outlook. Trade balance and nonfarm payroll figures will also be released.
The yen softened a bit to 154.66 overnight against the euro, but has stabilized lately to reach 154.22 in New York’s Friday morning dealing. On Thursday, European Central Bank lifted rates to a five-year high of 3.75 percent, as widely expected.
The yen moved was stable to the sterling approaching mid-morning Friday in New York. The pair moved around 226.70 for most of the morning, but improved to 226.40 lately. Data released Thursday morning showed lower-than-expected British industrial growth.