Wednesday, July 11, 2007

Yen Erases Gains on Speculation It Has Rallied Too Far, Too Quickly

(Bloomberg) -- The yen erased gains against the
dollar and the euro as a technical chart indicated its advance in
the past two days has been too fast.

Against the euro, the Japanese currency traded at 167.40,
after rising to as much as 166.51, and was at 121.77 versus the
dollar, down from 120.99 in Asian trading.


Read more at Bloomberg Currencies News

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