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The Yen Went Higher And The Euro Fell &Nbsp; Affected By Stock Market Worries.

2011/8/19 15:08:00 53

Asian currency markets Friday, safe haven currencies

Yen

The euro went down as the global stock market fell and there was no indication that the sell-off was over.

The electronic trading system showed that the greenback fell to 0300 yen and 76.50 yen at Greenwich mean time, and New York's foreign exchange market ended at 76.57 yen.

The euro traded for 1.4327 dollars against the US dollar, and New York's foreign exchange market ended at $1.4334.

The euro was 109.60 yen to the yen and 109.75 yen to New York's foreign exchange market.

The US dollar was 0.7940 Swiss francs against the Swiss franc, and 0.7941 Swiss francs at the end of the New York exchange market.

Asian stock markets also fell sharply on Friday after the US stock market plunged 3.7% on Thursday, raising concerns over the US economic growth outlook and the possible credit crunch in Europe.

Nikkei

index

The former market fell by 2.2%.

A senior foreign currency option dealer in Tokyo said that the Japanese market was so bad that the market was really vigilant against possible intervention by the Japanese government in the short term. Some market participants were prepared to sell some option contracts hedging against risks, but the price was too high.

Other stock markets are also bleak.

Australia S&P/ASX 200 index fell 2.6%, Korea composite index fell 4.3%, Hongkong Hang Seng Index fell 2.6%.

Traders say Lars Frisell, the chief economist of the Swedish financial regulator, has commented on the market confidence and exacerbated the comments that the European interbank market could easily collapse.

credit

Channels will be closed concerns.

Charlie Aitken, managing director of Bell Potter, a stockbroker, says that there are two or more European banks with liquidity problems, which is no secret, and it is clear that banks no longer trust each other.

Robert Rennie, head of the foreign exchange strategy division of Westpac, said that a report by the Wall Street Journal said that the US Federal Reserve Committee (Robert) is paying close attention to the situation of European banks in the United States, which also put pressure on market confidence.

In addition, worries about the possible recession of the US economy are also aggravated as the European sovereign debt crisis lingers.

The Federal Reserve Bank of Philadelphia announced on the eve of August that manufacturing activities in the area were shrinking in August.