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Japanese Yen: Still Mixed Across the Majors, Upside Risk Remains for the Low-Yielder

Friday, 15 August 2008 00:21:20 GMT

Written by Terri Belkas, Currency Strategist

The Japanese Yen ended the day lower against the greenback and British Pound but rallied against the rest of the majors, as the markets remain jittery.

Indeed, the DJIA saw extremely choppy trade as the index opened lower, but subsequently ended the day nearly 100 points higher. However, as we mentioned above, the financial markets remain very unstable, and traders should continue to keep an eye on technical levels and risk sentiment, as the Japanese yen tends to trade based on these factors rather than fundamentals.

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