Yen Falls Against Dollar
The J
apanese Yen fell against the US dollar on Friday as investors pinned their hopes on a US plan to address and subsidize mortgages causing stock markets to rise. Forex currency exchanges were busy as a slight return to risk appetite had investors consulting their forex converters searching for investment opportunities.
Japan May Intervene in Currency Markets
The Yen was further affected by speculation that the G7 meeting in Rome would address the currency’
s strength and a statement by the Japanese Finance Minister that the Japanese government would intervene in currency markets if necessary. Forex currency exchanges have been volatile lately and the need for a reliable Forex converter has never been greater.
Drop in Euro Zone GDP
The Euro Zone reported an unprecedented drop in GDP putting more pressure on the already troubled Euro. Most economists expect the European Central Bank to cut rates by 50 basis points in March in an attempt to stimulate the economy in the Euro Zone. The return of risk appetite had many investors selling the dollar and yen and consulting their forex converters for higher yielding currencies.
G7 May Address British Pound and JapaneseYen
Of particular concern to the G7 conference is the Pound’
s slide on forex currency exchanges. Analysts will be watching the conference for any discussion of currencies, in particular the Pound and the Yen. The volatility of global currency markets has affected trade and companies doing business overseas are checking forex converters with great frequency. Currency exchange rates affect profits and losses for corporations engaged in foreign trade.
US Markets Closed Monday
Trading is expected to be light on Monday as US markets shut down for President’
s Day. Forex currency exchanges will still be open for business but US participation will be down somewhat although day traders will still be at it consulting there forex currency converters hourly. Hopefully we will see some good news from the G7 conference.
