NEW YORK (MarketWatch) -- The yen fell against the dollar and euro Wednesday, slipping amid diminishing market expectations that Group of Seven finance ministers will single out the Japanese currency in any official statement when they meet in Germany this weekend.
Ever since the May sell-off, I keep a close watch on Japanese rates and the Yen. You can definitely attribute some of today's stock market rally (at least early on) to the prospect of unchanged rates in Japan. This is a turnaround from two days ago when everyone was convinced rates would go up. Should that scenario reverse, expect stocks to sell-off.
Ever since the May sell-off, I keep a close watch on Japanese rates and the Yen. You can definitely attribute some of today's stock market rally (at least early on) to the prospect of unchanged rates in Japan. This is a turnaround from two days ago when everyone was convinced rates would go up. Should that scenario reverse, expect stocks to sell-off.
This entry was posted
on Wednesday, February 07, 2007 at 2/07/2007 04:22:00 PM.
You can skip to the end and leave a response.
» Post a Comment