By
iForex |
Technical Analysis | Jan 31, 2011 03:07PM GMT |
The Japanese Yen has been among the safer haven currencies sought after by investors in the wake of the Egyptian crisis. However, some positive economic data caused the Yen to increase despite the country’s downgrade by the S & P. For starters, the unemployment claims diminished for the month of December to 4.9 percent. Unfortunately, Household spending dropped more than expected in the same month. CPI fell, though not as much as financial experts predicted. Retail trade took a hit to -2.0 percent. The Dollar traded at 82.14 Yen and the Japanese currency rose against the Euro to 111.63 during the morning of the Asian session.
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