Tuesday, May 1, 2007

Yen Varied Against World Counterparts, Tuesday, May 01, 2007 2:14:29 PM

The yen was mixed in action on Tuesday afternoon against its world counterparts. The yen moved with little economic news from the area. No news is expected from Japan tomorrow, and the markets will be closed on Thursday and Friday for the holiday.

Against the sterling, the yen saw choppy direction through trading on Tuesday. The currency bounced between a low of 239.68 and a high of 238.94. In general, the currency is near a 13 week low.

The yen edged up against the euro in action on Tuesday. The currency advanced to a mark of 162.93 after choppy action in the morning. Overall, the yen has moved uncertainly over the past week since reaching a multi-year low.

In trading with the dollar, the yen saw weakness on Tuesday. By the mid-afternoon, the Japanese currency had fallen to 119.81. On the whole, the currency is at its lowest point since the end of February.
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