Asian Session – Yen gains on reports global recovery will falter – stocks decline.





G10 Advancers and Decliners vs USD
JPY 0.717
EUR -0.428
CHF -0.445
GBP -1.283
The BoJ governor Shirakawa’s comments this morning were watched very closely as he expressed a somewhat optimistic view of the current economic and financial situation in Japan. This said, tight funding and a very protective stance by local banks with regards to lending still made credit conditions very “tight”. These comments come after the Tankan survey released last week showed Japanese…

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