Excerpt from: Forex Analysis
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| July 01, 2009 | | Chinese demand indicates that the recession may be coming to an end | The Japanese yen is dropping against the euro in forex trading on the currency market this morning as a change appears to be taking place in the global economy. The yen, known as a safe haven currency, is being abandoned as forex traders look for higher yields in riskier currencies.
One of the main drivers behind the weakness of the yen is the fact that China is expanding its manufacturing for the fourth month in a row. This pick-up in activity bodes well for the global economy, and may be an indicator that the recession is coming to a close.
The Japanese yen is also down against the U.S. dollar and the Swiss franc in currency trading.
| Topic Tags: China manufacturing, currencies, currency trading, dollar currency trading, forex trading, Japanese yen, recession, yen forex trading | |
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