Forex Trading Strategies: Pessimistic Outlook for U.S. Economy Bolsters Yen

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Friday, July 16, 2010

Pessimistic Outlook for U.S. Economy Bolsters Yen

The Japanese yen rose today on the speculation that the Federal Reserve would keep the interest rates at current record low level as the U.S. economic growth shows signs of the slowdown.

The analysts estimated that the confidence of the U.S. consumers dropped from 76.0 to 74.2, according to the University of Michigan preliminary index, which will be released today. The investors cut bets to 14 percent that the Fed would raise the benchmark rate on its meeting in December.

USD/JPY trade at 87.19 today as of 10:06 GMT after it opened at 87.38.

If you want to comment on the Japanese yen’s recent action or have any questions regarding this currency, please, feel free to reply below.

Earlier News About the Japanese Yen:

Losses of Japanese Yen Continue for Yet Another Day (2010-07-08)Yen Reinforced by Increasing Concern for Global Recovery (2010-07-07)Risk Sentiment Improves, Driving Yen Down (2010-07-02)Yen Strengthens amid Concerns for Economic Recovery (2010-06-29)Yen Weakens as Demand for Safety Wanes (2010-06-28)
This entry was postedon Friday, July 16th, 2010 at 12:06 pmand is filed under Japanese Yen.You can follow any responses to this entry through the RSS 2.0 feed.You can skip to the end and leave a response. Pinging is currently not allowed.

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