Yen Drops To Record Low Against Euro, Weakens Slightly Against Other Majors Late Sunday, Monday, May 21, 2007 1:11:48 AM

Late Sunday in New York, the Japanese currency touched a record low versus the Euro. However, the Yen showed slight weakness against the other major currencies. As there was no key economic data released from the Japanese economy during the session. The British rightmove house prices data for the month of May which was released at 7:01 pm ET weakened the Yen further against the Sterling.

The Japanese Yen lost ground versus the U.S. dollar on late Sunday in New York. After touching a low of 121.31 at 11:40 pm ET, the pair showed a choppy trend. Of late the Yen has been resuming the same trend and traded at 121.25 against the dollar as of 1:10 am Eastern Time Monday.

During the late hours on Sunday, the Yen showed weakness against its Japanese counterpart and hit a low of 163.96 by about 10:30 pm ET. The pair then entered a tight range and as of 1:10 am Eastern Time Monday, a Euro was quoted at 163.88 against the Yen.

Against the British currency, the Japanese Yen drifted down in the late evening deals on Sunday. However, at about 8:45 pm ET, the Yen bounced back some of its losses but it ticked down again within about an hour. Lately the Yen has been continuing its downtrend and collected 239.34 against the Sterling as of 1:10 am Eastern Time Monday.

On late Sunday in New York, the Yen trended lower versus the Swiss Franc. At about 10:00 pm ET, off 98.82 the Yen gained a few pips and followed a sideways movement thereafter. As of 1:10 am Eastern Time Monday, a Franc was worth 98.73 against the Yen.

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