Market Moving News: USD/JPY - May 21

 @ibtimes
on May 21 2010 6:17 AM

Usd/jpy - 89.66 ... International Monetary Fund (IMF) said Sri Lanka has given IMF plans to bring its deficit reduction strategy back to tack but the lender said it had not yet decided to disburse a delayed tranche of a $2.6 bln loan. The greeback dropped on renewed cross buying in jpy as European equities extended intra-day losses (FTSE, CAC 40 n DAX fell by more than 1.2%). Offers are tipped at 89.90/00 n 90.15 n further out at 90.40/45. On the downside, bids are located at 89.30/40 n 89.00/10 with stops building up below 88.90.

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