Excerpt from: Forex Analysis
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| April 22, 2009 | | Currency trading with USD/JPY | The dollar is down against the Japanese yen in forex trading on the currency market. Indeed, the yen is gaining strength again in FX trading, with an unwinding carry trade and concerns about risk and volatility.
Currency trading with USD/JPY should consider, however, that the greenback is only down against the yen today. Against other major currencies, the dollar is doing quite well, making up some solid ground.
Japanese officials prefer a weak currency, however, and this move is probably not agreeable to them. The Bank of Japan has been reluctant to intervene directly in the currency market, and that has meant that the yen has been strengthening lately as traders consider the yen for capital preservation strategies in these unsure economic times.
| Topic Tags: currency trading, dollar forex trading, forex trading, major currencies, USD/JPY, weak currency, yen forex trading | |
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