Japanese Currency Moves Little Against Majors Tuesday Afternoon [USD/JPY]

Tuesday, August 21, 2007 2:43:43 PM - The Japanese currency was mixed against its major counterparts in trading on Tuesday afternoon in New York. The yen traded as data from Japan showed Japan's all industry index rose 0.2% in June to 107.5, while Japanese crude steel production climbed 1.5% year-over-year in July.

The Japanese currency moved little against its British counterpart in trading on Tuesday. By the afternoon, the yen had bounced between a low of 227.60 and a high of 225.73. In general, the yen remains near an eight month high against the pound.

Versus the euro, the Japanese currency saw choppy action into the mid afternoon trading on Tuesday. The yen bounced between a low of 154.99 and a high of 153.71 as action progressed. Traders considered data that showed the Euro zone trade surplus widened to 7.8 billion euros in June from the 1.7 billion euros seen in the prior month. Meanwhile, the ZEW Economic Sentiment Indicator for Germany fell 17.3 points to minus 6.9 points in August, following 10.4 points recorded in the prior month.

The yen was mixed against its American counterpart in action on Tuesday afternoon. The Japanese currency held in a range between a high of 114.10 and a low of 114.70. The Japanese yen remains near its yearly high against the buck.