Forex Blog: Currency Trading News & Analysis.

August 24th 2007

US Dollar Steady in Japan

Bank of Japan governor, Toshihiko Fukui, has expressed a desire to keep credit rates low in Japan. His aspiration to stabilize interest rates has had a positive effect on the US Dollar in Japan, reports from Tokyo are showing. While many global markets are reeling from the subprime credit problems in the US, Japan is remaining calm and forgoing a reactionary rate hike. Forbes reports:

‘I understand that global credit markets are now in the process of re-pricing risk, and we need to see if the current re-pricing proceeds in an orderly fashion, or if it develops in a disorderly manner,’ Fukui said.

Read more: US dollar higher in Tokyo as no quick rate hike seen in Japan

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Posted by Amy Cottrell | in US Dollar | No Comments »

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