The Yen is dropping overnight so US equity futures are catching a bid. ES resistance is at 1433.75, NQ at 1796 and 1797.75. If this spills into tomorrow, we could see a bounce in equities.
March 29 (Bloomberg) -- The yen snapped a two-day advance against the dollar and euro as Japanese investors resumed buying overseas bonds to benefit from their higher yields.
The yen fell against the world's 16 most-actively traded currencies as a government report showed domestic investors bought more foreign debt than they sold in the week to March 23, ending seven weeks of net sales. The currency also dropped on speculation newly created funds will start buying more assets overseas when the fiscal year starts on April 1.
March 29 (Bloomberg) -- The yen snapped a two-day advance against the dollar and euro as Japanese investors resumed buying overseas bonds to benefit from their higher yields.
The yen fell against the world's 16 most-actively traded currencies as a government report showed domestic investors bought more foreign debt than they sold in the week to March 23, ending seven weeks of net sales. The currency also dropped on speculation newly created funds will start buying more assets overseas when the fiscal year starts on April 1.
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on Wednesday, March 28, 2007 at 3/28/2007 11:53:00 PM.
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