By: Barbara Zigah
As reported at 2:34 p.m. (JST) in Tokyo, the Japanese Yen saw broad gains in Asian trading today as share prices fell and risk appetite for higher-yielding currencies waned. The news that U.S. President Barack Obama would appoint Ben Bernanke to a second term as the Chairman of the Federal Reserve Bank was widely expected, and generally had little effect on the currency markets. Stocks in Asia took a fall following yesterday’s lackluster trading day on Wall Street; the Shanghai share index lost 4% .SSEC following Chinese Premier Wen Jiabao’s comments that China’s loose monetary policy would continue in the face of new economic “difficulties.”
The Japanese Yen traded at 93.96 Yen, a gain of .7%, though still lower than the 1-month high touched on last week. The Yen also gained on the single currency Euro, trading at 134.30 Yen, a rise of .7%. Typically higher yielding, the Australian Dollars also slipped against the Yen, trading at $0.8362, a loss of .2%. Conversely, the New Zealand Dollar moved up on the Yen, trading at $0.6850, a .1% gain and nearing the 11-month high of $0.6888 touched on earlier this month.
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Barbara Zigah
Barbara Zigah is a freelance journalist living in Ghana, who specializes in Forex-related content; her online work has appeared in the IB Times, NASDAQ, Benzinga, and Seeking Alpha.
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Live FX Rates
| Symbol | Change | High | Low |
|---|
| EUR/USD | 0.008 | 1.2623 | 1.2562 |
|---|---|---|---|
| AUD/USD | 0.0108 | 0.9879 | 0.9799 |
| EUR/GBP | 0.0031 | 0.8036 | 0.801 |
| EUR/JPY | 0.33 | 100.21 | 99.81 |
| GBP/USD | 0.0044 | 1.5716 | 1.5678 |
| USD/CAD | -0.0053 | 1.0271 | 1.0238 |
| USD/CHF | -0.0048 | 0.957 | 0.9532 |
| USD/JPY | -0.28 | 79.73 | 79.35 |
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