Yen hits the floor, Online Forex Investors and Daily FX Traders Fears

Thursday, April 30, 2009

The Yen has suffered as of late and it was evident on Wednesday as investors tested their risk tolerance once again in response to some positive signals coming out of the EU and US. After profiting from a near panic over the Swine Flu stories coming out of Mexico and other countries, the Yen has given back all of those gains and had fallen negative against most currencies as of Wednesday. Insiders and forex online traders fear the Japanese Economy is not showing any significant signs of recovery - even mild signs like the US and EU. The Japanese Economy relies heavily on Exports which are still a sour spot for most countries right now.

Looking at the daily fx update at 11:20PM GMT, the Yen was down 1.1% to the US Dollar to 97.45, down 1.92% tot he Euro to 129.14, down 2.1% to the Sterling to 143.94, down 1.6% to the Swiss Franc to 85.68 and down 4% to the Australian Dollar to 70.67.


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