Excerpt from:  GFT Analysts in the News
.
December 17, 2008

Bank of Japan Expected to Cut Rates on Friday

Japanese yen continues to gain against the U.S. dollar in currency trading
The Japanese yen continues to gain against the U.S. dollar in currency trading on the FX market, even with rate cut expectations ahead. The Bank of Japan truly does appear to be in a race to 0% with the Fed: the 0.3% rate is expected to be cut to .15% or even .1%.

After yesterday's Fed rate cut, bringing U.S. rates to 0.25%, Japan lost its distinction of lowest rate. After Friday, though, that's expected to change.

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Topic Tags:  Bank of Japan, currency trading, currency trading FX market, Fed rate cut, FX market, Japanese yen, U.S. dollar, U.S. dollar currency trading

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