14 September 2001, 09:13 Asia FX Midday: Consolidation still continues since US blasts
Hong Kong, Sept. 14 (BridgeNews) - Consolidation continued in the
major currencies market Friday morning with the market remained quiet
since the terrorist attacks in the U.S. on Tuesday. Dollar/yen stalled in
a range of 118.72-119.05 as of 1200 JT, little changed from the New York
closing of 118.80 as the direction remained unclear after the blasts.
Dollar/yen rose to 119.05 on demand for the greenback toward the
Tokyo's retail fixing at 0955 JT.
There was an expectation of U.S. dollar weakness resulting from a
further slide in the U.S. stock market when it reopens Monday.
The Yomiuri Shimbun reported that the Bank of Japan is considering
easing policy further at its monetary policy meeting scheduled for Tuesday
and Wednesday.
Japan's State Minister for Economic and Fiscal Policy Heizo Takenaka
said he would like to attend the BOJ's policy board meeting slated for
next week.
He also said he will make a decision on what to say at the meeting
after closely watching the conditions in the New York markets.
In other currency trading, euro/dollar traded 0.9093-0.9125,
retreating slightly on technical factors, with the market appearing
slightly overbought after overnight gains.
Euro/yen confined to a narrow trading range of 108.10-108.36 as of
1200 JT.
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