1 July 2002, 09:11 Yen slightly higher vs dollar/yen after better-than-expected Tankan
TOKYO (AFX-ASIA) - The yen was slightly higher against the dollar and the
euro, following a better-than-expected June Tankan survey released by the bank
of Japan, dealers said.
Just after the release of the Tankan survey, dollar/yen was at 119.59
compared with 119.65, while the euro fell to 118.73 from 118.79.
Earlier, the Bank of Japan said that the large manufacturers' diffusion
index (DI) was 18 minus, compared with minus 38 in the last survey in March.
The large non-manufacturers DI was minus 16, compared with minus 22 in
March.
In the March survey, large manufacturers had forecast the diffusion index in
June would improve to minus 27 and non-manufacturers expected minus 21.
Private sector economists had forecast that the large manufacturers DI would
come in at between minus 22 and minus 29, with large non-manufacturers between
minus 19 and minus 22.
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