USD/JPY Rises Following FED Meeting

By IBTimes Staff Reporter | January 28 2010 6:40 AM

The Yen took some significant losses against the Dollar in early morning trading today, rising to its current level of 90.30. Investors are continuing to flock to the greenback and away from the Yen as American interest rates may change in the near future. JPY also fell against the Euro, with the pair shooting up to its current level of 126.50.

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Yen traders will want to pay attention to a number of news events, such as the Japanese Household Spending Report and the Japanese Monetary Policy Meeting minutes, both scheduled to be released today. Any positive news regarding the Japanese economy will likely help the Yen bounce back from its current status in the marketplace.