The yen fell against the dollar and the euro as a rally in Asian and European stocks encouraged investors to step up purchases of higher-yielding assets financed with the Japanese currency.
Yen bearish on the movement trade today (03/11). The yen weakened condition was caused by the increasing Asia Stock Exchange share price after the plunged sharply in October again attracting investors to invest in the stock market.
Yen carry trade back in line with the fervent Send-stock exchange in Asia today. The Japanese investor commonly do carry trade with and which they borrow in Japan because interest rates in the country is low compared to most other big countries. In the current interest rates in Japan are in the position of 0.3%.
Asian stock markets today has started to show stability after plunged sharply in the month of October. Trade today is estimated yen will still be moving in a negative trend, although the volume of trade will not be too big because holiday in the japanese market.
Yen is in the position of 98.43 per dollar today, from the relatively stable position in New York closing level at 98.46 yen. Meanwhile, the euro against the Japanese currency has experienced decrease of 0.4% to 125.77 from 125.30 yen. Yen also experienced decrease of 0.8% to 66.24 against the Aussie and weakened 0.7% to 57.80 against the kiwi.
Source:
SPY PEN CAMERA
16 years ago
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