Monday, 19 Apr 2010

Yen, Dollar Gain versus Major Counterparts, Crude Drops below $83 a barrel

The Dollar and Yen were boosted during Monday's Asian and European trading following Friday's news that the U.S. Securities and Exchange Commission (SEC) charged Goldman Sachs with defrauding investors and renewed concern regarding the viability of the Greek aid package. As market pessimism dampened demand for equities and commodities, investors turned to the safety of the USD and JPY.

The Yen climbed to 123.57 per EUR from 124.44 in New York Friday. Japan's currency advanced to 91.80 per USD from 92.17. The EUR fell to $1.3435 from $1.3503. The Pound slid by the most in almost two weeks due to concerns over the outcome of the elections. The Pound dropped to $1.5207 depreciated by 0.5% to 88.30 pence per EUR.

Crude for May delivery fell $1.49 to $81.75 per barrel in electronic trading on Globex. Crude is currently trading at $82.76 a barrel, down from over 86$ a barrel late Friday in New York trading.