German IFO survey relatively unchanged…
Currencies Direct February 24th 2009 - < 1 minute read
The main mover from yesterday in the forex markets was USD/YEN…we have seen further weakness in the Yen in continuance of recent weakening economic data and a flight away from the Yen as a safe haven currency. This could spiral a major correction on Yen gains made since the onset of risk aversion in the markets; a scenario which would be openly welcomed by the Japanese economy as the strength of the Yen impinges on its exporting potential.
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Currencies Direct