Forex Blog: Currency Trading News & Analysis.

July 13th 2006

Yen Rises on Eve of BoJ Meeting

Tomorrow, the Bank of Japan will meet, and it is expected that they will raise the interest rate in Japan to 0.25%. Such an occurence would mark the first time in five years that the interest rate was above zero. Yesterday, the US dollar rose to a six-day high of 115.73 yen in response to the expected rate hike. According to Life Style Extra:

‘The recent spike higher in dollar/yen provides a new opportunity for playing future yen strength as interest rate differentials narrow, the economy remains strong and the current account surplus provides a happy contrast to structural deficiencies in the US,’ [Daragh Maher of CALYON] said.

Read more: Yen rises ahead of BoJ meeting tomorrow

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Posted by Adam Kritzer | in Japanese Yen | No Comments »

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