Yesterday was a gloomy day for the Japanese Yen. Following on from August’s poor Core Machinery Orders, September’s figure showed no let-up, and came out well below the expected -3.6%. As a result the Japanese Yen has fallen to its lowest level against the US dollar since the end of August.
Elsewhere, following on from New Zealand lowering their interest rates on Wednesday, the Australian dollar gained back some recent lost ground. This move was further aided by better than expected employment data being released from the country.
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