In Asian trading, the U.S. Dollar fell versus the Japanese Yen to its lowest point in 7-weeks on the forex market. the U.S. Dollar declined to 88.20 Yen on the forex market, approaching the 88.01 Yen low level of October.
The U.S. Dollar Index fell to 74.946 .DXY registered a decline of .2% and approached the 15-month low of 74.679 .DXY established earlier this month. Forex experts explain that several factors are contributing to the U.S. Dollar’s continued fall such as the continuing fall in the U.S. interest rates and the speculation of hedge fund selling and the rebalancing the MSCI Japan Index in favor of the Japanese Yen on the forex market.
The Australian Dollar continues to rise especially after the publication of optimistic economic data according to which investors expect an increase in interest rates on the forex market. The Australien Dollar traded on the forex market at $0.9255 which is equivalent to an increase of .7% on the forex market. The Australian Dollar also gained in value versus the Japanese Yen, trading at 81.69 Yen which is equivalent a .4% increase on the forex market.
