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JPY Daily News
Yen Maintains Gains Following Chinese News
Friday, 15 Jan 2010
Investors, who appear to be turning away from riskier currencies, have been giving JPY a big boost against its major counterparts in recent trading. The Chinese decision to tighten its monetary policy has led to big gains for the safe-haven Yen. After rising to 131.11 against the Euro yesterday, the EUR/JPY pair is currently trading around the 131.45 level.
If the major economic news out of the U.S. comes in as expected today, the Yen is likely to see more gains. Analysts are not forecasting that the American economy is any closer to raising its interest rates in the near future. Providing this is true, investors are likely to continue to turn to the Yen as a source of stability in the Forex market
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