Pressure is Building on Bank of Japan to Act on Yen
By James A. Hyerczyk
05 December 2008 @ 05:00 pm EDT
Dismal U.S. economic news continued to dominate this week culminating with Friday's announcement that the U.S. lost 533,000 jobs. This number was about 200,000 over the average guess and the worst number since 1974. Although the number was worse than expected the Dollar was able to maintain its stability along with the other major Forex markets. The U.S. stock markets closed lower for the week, but for the most part seemed to be attracting buyers on breaks. This trading action helped risk sensitive currency markets like the Australian Dollar and New Zealand Dollar.