Forex - Yen Descends Against Euro and Franc

Tortola, New York (PressExposure) January 16, 2008 -- The Japanese yen slid down against the euro and the Swiss complements as analyzed by on the other hand it gained a bit high versus the dollar recently the yen is at the trend of 109.3 against the dollar, 214.53 against the pound and 99.13 against the franc and 161.76 versus euro. Looking over the market its being noticed that the investors had came up with the mindset to reduce the holding of those assets which are being directly funded by Japan as there exist condition of weakness in the Japanese stock due to the speculation which is still unclear to predict. On account of sub prime financial crisis which led to the speculative funds from the financial markets, surged the gold worth, finally leading to an increment in gold reserves by $1.304 billion from November

After the Bank of Japan’s half yearly report which came out on December 2007 depicted the fact that the bank’s total asses of the year had fallen to 5.5% from the last year. There were almost seven monetary policy meeting the previous year which came out with the fact that the Japan’s economy is broadening moderately.

The Japanese economy watcher’s survey which depicts the workers sentiments for the employment showed signs that they are pessimistic about the Japan’s economy, the report revealed. On account of increase in gasoline price, year’s slothfulness and low sales that depressed there sentiments. It reduced to 36.6 in December from 38.8 in November the previous year which was below the expected. It is analyzed that the average worker in Japan doesn’t have the hope that this phase of the economy will improve in the near future. However, there are expectations that the growth will occur in the economy with the coming of first half of 2008 on account of strengthening housing construction and increase in private consumption. The only risk to the Japanese economy is the export will slide down more than expected during 2008.

In order to gain against the major currencies bank of Japan will keep its rate at 0.5% the lowest within the developed countries of the world, until not less then the first half of 2008. The Bank of Japan will have a meet with an agenda of monetary policy on January 21-22 in the intervening time the ECB has decided to keep its rate constant at 4%.

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Press Release Submitted On: January 11, 2008 at 5:05 am
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