Thu, 04 Nov 2010 00:00:00 +0100

Yen Rises on Speculation Japanese Exporters Purchased Currency

The yen rose for the first time in four days against the dollar on speculation Japanese exporters bought the currency after it touched a one-week low. The yen climbed to 80.80 per dollar from 81.07 yesterday, when it fell to 81.58, the lowest level since Oct. 28. The currency advanced to 114.20 per euro from 114.64 yesterday, when it reached 114.82, the weakest since Oct. 11 The Japanese currency is still stronger than the 89.44 per dollar average that large manufactures predicted for the six months to March 2011, according to the Bank of Japan's Tankan survey released in September.

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading. ForexYard