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Jul

29

Euro declines versus yen in Forex trading

July 29th, 2010

The euro declined against the yen today (July 29th), moving away from the recent two-month high on selling by Japanese exporters.

Reuters reported the euro slipped by 0.2 per cent versus the Japanese currency to 113.40 yen (83p), pulling away from the 114.74 yen struck in Forex trading yesterday.

Meanwhile, the news agency reports the New Zealand dollar declined quickly following the Reserve Bank of New Zealand’s announcement interest rate hikes would be less than previously believed.

The kiwi slipped to a low of close to $0.7205, from around $0.7280 seen before the announcement.

Hideki Amikura, deputy general manager of forex trading at Nomura Trust and Banking, said:"The kiwi was dented by dovish comments from New Zealand’s central bank, that came a day after data showed inflation has cooled in Australia."

At 12:14 BST yesterday, the euro was trading at 114.00 yen on trading platforms.

This entry was posted on Thursday, July 29th, 2010 at 14:06 and is filed under Trading News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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