Friday FX Brief: Yen Rises to 2010 High per Dollar
Andrew Wilkinson submits:
The end of July has traders on edge after a month of remarkable weakness for the dollar, while they cautiously await August PMI data due next week for the latest health check on the state of economic health. Comments from St. Louis Fed President James Bullard sounded the deflationary bell once more, causing a further flow of refugees into the Japanese yen, which raced to its highest level for 2010 at ¥86.16. The yen rose against the euro, which also looks set to close the month with a substantial eight cent gain against the dollar.
