Australian Dollar gains versus Japanese Yen

As reported at 3:43 p.m. in Tokyo trading today, the Japanese Yen slipped versus other major currencies on the releasing of better-than-expected regional jobs data which raised investor hopes that the global economy’s worst is now behind. Against the Australian Dollar, the Japanese Yen took a hard hit, touching on a 7-month low to trade at 74.63 Yen before retreating to 74.15 Yen; despite the fall, the Aussie Dollar was still up nearly 1% from Wednesday’s trading in New York. The New Zealand Dollar also gained against the Japanese Yen, up .9% to trade at 57.90 Yen.

According to one currency strategist in Canada, risk appetite is high in Asian markets, and it appears that the U.S. stress test results have already been well absorbed by the markets. Markets today will focus on the ECB’s policy decision expected to be released later today. Investors are hoping and expecting a 25 basis point reduction in the key interest rate in an effort by the European Central Bank to spur on the economies of the Euro Zone. Ahead of the ECB meeting, the Euro slipped versus the U.S. Dollar trading at $1.3295, a loss of .3%, and hit on a 2½ month low against the Pound Sterling, trading at 87.65 Pence, a .4% loss on the day.

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