The pressure on the stocks markets continued to push the Japanese yen up across the broad getting benefits from the unwinding of the carry trades transactions in the favor of the low yielding currencies such as the greenback and the Japanese yen which has an interest rate at just .1%. Nikkei 225 is still under pressure 107 points until now trading at 9313 and it could not follow the US stocks rebound again today negatively impacted by the strong yen which can hurt the Japanese exports at this time of sluggish global demand which effected negatively on the Japanese Tankan survey of the big manufacturers of the second quarter which came last week at -9.4% and it was expected to be 6.9% putting further pressure on the Japanese stocks which have been hurt by a furry of disappointing data from US started last week with falling of June US consumers confidence survey to 49.3 and it was expected to be 57.


Best wishes

FX Consultant
Walid Salah El Din
E-Mail: mail@fx-recommends.com
http://www.fx-recommends.com