Forex EA Robot Trading Blog

Aug. 1 (Bloomberg) -- The yen jumped against the euro and the dollar as
hedge fund losses and a slump in stocks prompted investors to cut investments
paid for by loans in Japan.
Traders pared so-called carry trades, pushing up
the yen versus the 16 most-active currencies. The Australian and New Zealand
dollars, whose high interest rates are a magnet to investors, were among the
biggest decliners against the yen. Asian and European equities also dropped on
speculation of further fund losses tied to U.S. subprime mortgages.

Looks like it might be set to continue further, when it comes down, it comes down hard.

Labels: GBPJPY

# posted by My FX Tools @ 03:45