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Day: June 16, 2008
June 162008
Yen Falls as Carry Trade Attracts Traders
The Japanese yen fell significantly today against the other major world currencies as the fast growth on the Asian and European stock markets attracted more participants to the carry trade activities. Yen was used as a low-cost borrowing currency to fund the high-risk assets, including such currencies as euro, pound and the Australian dollar. All those currencies rose good today against the […]
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June 162008
Dollar Declines in Correction
The dollar declined today on the Forex market as the growth that it has experienced during the last week required some correction. EUR/USD currency pair went up from 1.5404 to 1.5517 today. The fundamental background was mixed today in the United States. NY Empire State manufacturing survey showed a decrease in the index it went down from -3.2 in May to -8.7 in June, still indicating a pre-recession condition in the manufacturing sector of the […]
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