Dollar and Yen floating aimlessly on new year’s eve
The US Dollar floated today near its 16-week highs due to a generally weak Yen. Due to the holiday, low volume of trading in the forex markets along with general weakness in the Yen, contributed to keeping the Dollar up near its highs and the Yen languishing.
The Yen has been weighed down lately on account [...]
Yen takes a dive
The Japanese Yen took a massive hit as the Bank of Japan threatened intervention in the currency market. The USD/Yen pair rose to a high of 91.79 on account of heavy demand for the US dollar from the Japanese export market.
Taking a cue from the sentiment for the coming year, traders have been building [...]
