Source: ForexYard
Tuesday’s trading saw the Japanese Yen decline versus most of its Major currency counterparts including the Euro and the U.S Dollar. The fall in the Yen was due to a report out of Germany indicating a rise in investor confidence which is now at a two-year high, making riskier assets more appealing to investors.
The Yen dropped 0.4 against the U.S dollar and also fell short versus the Euro dropping 0.5 percent after seeing a 0.4 percent rise earlier on.
Elsewhere,the Canadian dollar performed well against the greenback as it appreciated the most in four months. The climb of the “loonie” came after the central bank commented on higher borrowing costs.
There are a number of financial reports still due for release this week that could affect the movements of the Major currencies including,UK Monetary Policy Meeting Minutes,Bank of Canada Monetary Policy Report,U.S Initial Jobless Claims and Existing Home Sales
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.