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.

© 1999-2024 Forex EuroClub
All rights reserved