Yen lower on new US plan
February 18, 2009
Yen lower on new US plan
Story link: Yen lower on new US plan
The US dollar gained on the yen and the euro on Wednesday on a new plan from the administration of US President Barack Obama that is designed to slow the number of home foreclosures in the United States.
The plan, worth $75 billion, is aimed a helping millions of US homeowners to refinance loans with Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE).
The yen also declined versus the euro and the Australian dollar on the possibility that a success for the Obama plan will reduce demand for the yen as a safe investment.
By nearly noon in New York, the yen traded at Â¥93.835 to the US dollar, at Â¥117.5877 to the euro and at Â¥59.8628 to the Aussie while the greenback was at $1.2531 to the euro.
The euro was hurt by the chance that the recession could hurt banks in the Eurozone.
Meanwhile, the Canadian dollar gained on its US counterpart on hopes that the Obama plan to reduce home foreclosures will revive investor interest in risky currency investments by helping the US economy toward recovery.
In late morning trade in New York the loonie traded at C$1.2596 to the US dollar.
- Today's Currency News: Pound Sterling, US Dollar, Japanese Yen Forecasts - July 29, 2016
- FX Currency News: Today’s Pound, Euro Exchange Rate Forecast - July 29, 2016
- Pound Sterling FX Exchange Rate Forecast vs USD EUR JPY - July 28, 2016
- Federal Reserve Holds Rate – GBP USD Exchange Rate Forecast Improves - July 28, 2016
- Foreign Exchange Rate Forecast: US Fed and BoJ Decisions to Trigger Currency Price Action Shortly - July 26, 2016
- Sterling Outlook Remains Uncertain after Unusual Day of Movement - July 26, 2016
- Pound Sterling US Dollar Exchange Rate Forecast Mixed after BoE Comments - July 25, 2016
- This Week’s Bank of Japan (BoJ) and Fed Decisions Forecast to Shape GBP, JPY, USD Exchange Rate Movement - July 25, 2016
- Pound Sterling Outlook Negative, Euro Forecasts Mixed - July 22, 2016
- Pound Sterling to Euro Exchange Rate Dives after PMIs Plummet - July 21, 2016
Daily Market Updates
Major Currency Forecasts
- Pound Sterling Forecast
- Euro Forecast
- American Dollar Forecast
- Australian Dollar Forecast
- Japanese Yen Forecast
- Swiss Franc Forecast
- New Zealand Dollar Forecast
- Canadian Dollar Forecast
- Norwegian Krone Forecast
- South African Rand Forecast
- Indian Rupee Forecast
- Singapore Dollar Forecast
- UAE Dirhams Forecast
- Turkish Lira Forecast
- Hong Kong Dollar Forecast
- Pound Euro Forecast
- Pound Dollar Forecast
- Pound Australian Dollar Forecast
- Pound Yen Forecast
- Pound Swiss Franc Forecast
- Pound NZ Dollar Forecast
- Pound Canadian Dollar Forecast
- Pound Krone Forecast
- Pound Rand Forecast
- Pound Rupee Forecast
- Pound Sing Dollar Forecast
- Pound Dirham Forecast
- Pound Lira Forecast
- Pound HK Dollar Forecast