Japanese Yen Gains Against the US Dollar

Wed, 01 Feb 2012 10:28:47 -0500

Yen higher in forex trading

Japanese yen is gaining against the US dollar in forex trading today, heading higher as concerns about the US economy persist. Even though there is some good news coming out of the States, the yen is gaining right now.

However, the gains by the yen are making Japanese officials nervous. They are concerned about an appreciating yen that could very well cause problems for exports. As a result, Finance Minister Jun Azumi stands ready to intervene in the FX market if it becomes necessary.

Japan has already shown its willingness, on more than one occasion, to interfere directly with the FX market in order to keep the yen weak. If yen continues to gain strength against the US dollar in currency trading, there is a good chance that Japanese officials will take direct measures.

Forex Analysis | GFT Forex

Japanese Yen Gains Against the US Dollar

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