Japan Yen Rises Nikkei Edges Down
The Japan Yen rose toward a seven-week high against the euro as signs the global economy is slowing boosted demand for Japan’s currency as a refuge. OJ Gov, PM Kan Discussed Recent FX Moves By Phone
While the Nikkei edges down hurt by economy worries Japan’s Nikkei fell 0.4 percent on Monday, dented by what some market players said was selling by hedge funds and foreign investors amid worries that a strong yen would derail a fragile economic recovery and lingering fears about global economic growth.
Dollar falls to lower 85 yen level after Kan-Shirakawa talks – The U.S. dollar fell to the lower 85 yen level Monday morning in Tokyo as the yen drew buying following news that Prime Minister Naoto Kan and Bank of Japan Governor Masaaki Shirakawa did not discuss whether to intervene in the currency market to stem the Japanese currency’s recent rise during their talk earlier in the day.
Among the biggest reasons for a fresh round of stimulus is the strength of the yen against many other major currencies, dragging on Japan’s vital export … Japan’s stimulus, forex plans remain uncertain
