USD/JPY - 92.11.. Although dlr extended y'day's gain in Tokyo n briefly climbed to 92.26 on reports fm Reuters that rating agency S&P warned of a possible downgrade of Japan rating if the govt. fails to put its fiscal policy in order (i.e to cut its debt by half). Offers fm exporters & profit-taking capped intra-day gain, more selling is reported at 92.30-50 area. On the downside, year-end demand by Japanese names remain at 91.90-70 region, implying a 2-way trading is in store in Europe.
Join the Discussion