25 April 2005, 15:57  Yen remained steady against the greenback

In contrast to the euro, the yen remained steady against the greenback still benefiting from the easing of tensions with China after last week's Prime Minister Kozumi's apology for Japan's conduct during WWII. The yen also received a strong boost from comments by China's central bank governor that foreign pressure may speed up a change in the yuan revaluation. Although upon further examination traders realized that BOC governor was providing little new information as he offered no exact timetable or specific details as to the nature of the possible revaluation, the mere possibility of yaun revaluation has put a firm bid underneath the yen and the currency may continue to enjoy further relative strength in the near term

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