By: Barbara Zigah
The U.S. Dollar held steady near recently established peaks versus the Japanese Yen in Asian trading today, spurred by year end corporate demand. Today is the final trading day of 2009 for a significant number of Japanese firms which will be closed until January 4th 2010. In light holiday trading, market players continue to eye U.S. economic data and this week’s Treasury auctions to assess whether or not the greenback can maintain the rally. Most traders do expect the yield on U.S. Treasuries to rise; nearly $118 billion will be auctioned this week. One economist from Tokyo commented that upcoming remarks from the Chairman of the U.S. Federal Reserve Bank, Ben Bernanke, will be the determinant of the U.S. currency’s continued gains; Mr. Bernanke is expected to speak on January 3rd 2010.
As reported at 3:06 p.m. (JST) in Tokyo, the U.S. Dollar was trading at 91.54 Yen, but had risen as high as 91.79 Yen at one point in the day. The Japanese Yen has lost nearly 1% against the greenback this year; last year it had risen almost 19%. The U.S. Dollar Index, a measure of the U.S. currency’s value versus a basket of six major currencies, traded at 77.693 .DXY.
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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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FX BONUSES & PROMOTIONS
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Live Rates
| Symbol | Change | High | Low |
|---|
| EUR/USD | 0.0011 | 1.3283 | 1.32 |
|---|---|---|---|
| AUD/USD | 0.0058 | 1.0777 | 1.0684 |
| EUR/GBP | 0.0003 | 0.8401 | 0.8368 |
| EUR/JPY | -0.04 | 103.17 | 102.28 |
| GBP/USD | 0.0005 | 1.5826 | 1.5761 |
| USD/CAD | -0.002 | 1.0015 | 0.9975 |
| USD/CHF | -0.0007 | 0.9159 | 0.9106 |
| USD/JPY | -0.06 | 77.77 | 77.41 |
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