Japanese Yen crosses continued down a volatile path, as the Dow experienced a strong rally.
The Yen managed to rally against some but not all of the majors. Economic data was soft, with the Eco Watchers Survey plunging to a 6 year low as high food and oil prices took a heavy toll on sentiment. These numbers could be foreshadowing a similar deterioration in consumer spending as the Bankruptcy rate rose for the first time in 3 months. Looking ahead, Machine Order and Machine Tool Orders should help investors attain a better understanding of how poorly the business sector may be doing. With no interest rate change in the near future, more trouble in the Japanese economy may only have a limited impact on the Japanese Yen.