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clipped from japaneseyen.eu

Recently, the JPY rallied against the USD and the EUR on speculation that slides in global stocks will prompt investors to sell higher-yielding assets and pay back loans in Japan. The Yen also advanced versus the New Zealand dollar and against the British pound, as U.S. lawmakers held off taking action on a bailout requested by the nation’s automakers, spurring a reduction in so-called carry trades. A rise in U.S. jobless claims and a drop in manufacturing also helped boost the JPY. The Yen traded at 94.16 per USD from 93.69 late yesterday in New York, and at 117.13 per EUR from 116.68 yesterday.

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