Yen Up As Japan Exporters

This is a discussion on Yen Up As Japan Exporters within the General Trading Chat forums, part of the T2W Archive category; The dollar will likely remain above Y80.00 in coming sessions, while possibly rising as high as Y82.00. At 0450 GMT, ...

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Old Mar 22, 2011, 12:02pm   #1
 
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Yen Up As Japan Exporters

The dollar will likely remain above Y80.00 in coming sessions, while possibly rising as high as Y82.00. At 0450 GMT, the dollar was at Y80.97 compared with Y81.01 late Monday in New York. The euro was at Y115.12 compared with Y115.23.

Still, dealers said that the yen could begin strengthening again on any flare-up in risk aversion. That could come if the problems with Japan's ***ushima Daiichi nuclear plant intensify or problems arise with coalition air strikes against forces loyal to Libyan leader Moammar Gadhafi.

Japan's economy minister said Tuesday that nuclear power would remain the primary source of energy for the Japanese economy despite concerns over safety after problems at the quake-hit Daiichi plant.

The euro was at $1.4216 at 0450 GMT from $1.4225 late Monday in New York. The ICE Dollar Index, which compared the greenback to a basket of currencies including the yen and euro, was at 75.440 compared with 75.398.
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