Main page -> Forex news -> Yen Weakens on Signs of Recovery

Yen Weakens on Signs of Recovery

July
27
2010

The Japanese yen declined today against the U.S. dollar and the euro as the signs of the economic recovery in the U.S. prompted the investors to leave the safe currencies in favor of the higher-yielding  ones.
The Dow Jones Industrial Average rose by 1 percent yesterday after FedEx Corp., the second-largest package-shipping company in the U.S., raised its earnings forecast for the quarter and for the year. The forecasts also suggest about improving consumer confidence in Germany and increasing number of the durable goods orders in the U.S.