Tuesday, 27 Apr 2010

JPY, USD Gain on Decline in Global Equities

The Yen and Dollar strengthened today as global equities declined over continued concerns the aid from the Euro-Zone countries will not be sufficient to help Greece avoid default. The Japanese currency gained versus all its most traded counterparts with the USD gaining against all but the JPY.

The Dollar could be boosted further if the expected U.S data later today will prove supportive of U.S economic recovery. The U.S. house price index is expected to show improvement after falling 0.7% the previous month, while the consumer confidence index for April is expected to have risen to 53.6 from 52.5.

The Dollar slipped to ¥93.69 from ¥94.03 late Monday in New York. The EUR is at $1.3303 from $1.3364. The EUR is also down to ¥124.61 from ¥125.68. The Pound fell to $1.5328 from $1.5455