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Excerpt from:  GFT Analysts in the News
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September 08, 2008

Japanese Yen Plunges in Forex Trading

Government bailout of Fannie and Freddie reuslt in lower yen in currency trading
Japanese yen in currency trading on the FX market
The Japanese yen is plunging rather dramatically in forex trading on the news that the U.S. government is taking over Fannie Mae and Freddie Mac. The announcement of the bailout of the government sponsored enterprises came over the weekend and is affecting markets today.

The yen is affected in currency trading on the FX market due to the fact that the news is expected to spark a rally in global stock markets, creating a bit better risk appetite. This could mean a return -- at least briefly -- to the popularity of the yen carry trade.

This is a change in direction from Friday, when the yen was seeing success on the FX market.
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Topic Tags:  currency trading, currency trading FX market, Fannie Mae, forex trading, Freddie Mac, Japanese yen forex trading, yen carry trade, yen currency trading
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