11 February 2002, 11:41  Yen Little Changed In Holiday Muted Trade

The yen ended the Asian session little changed in Monday's Asian session, despite initially falling below Y135.00. With little fresh news from the weekend's Group of Seven meeting in Ottawa, dealers initially pushed the yen lower as the view that no comment on current forex rates at the meeting endorsed the view of a weaker yen. However, with trade very thin due to a swathe of public holidays in the region, there was limited follow-through seeing the currency return to its overnight levels. The euro scored some modest gains against the dollar, testing 18-day highs around $0.8740, despite reports of early Sydney trades at the $0.8650 level. //MarketNews

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