The USD remains unchanged in relation to the Japanese Yen
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The morning forex trades in Tokyo resulted in the growth of the USD in relation to yen caused by the increased demand and possibility of the basic materials costs growth. So the USD reached 105.07 yen and the Euro - $1.5765. However it is expected that the US dollar will decrease soon due to the US unemployment numbers that have increased throughout the May. The jobless level in the US reached the 5.5% point throughout the May instead of the 5.1 percent predicted by the experts.
The numbers issued in May were the largest after the data for the February 1986. As for the number of job places that were lost their number is estimated at 49,000. According to Yosuke Hosokawa a forex dealer at Chuo Mitsui Trust & Banking Co the released numbers were surprising for everyone and lead to the decrease of the interest rate growth possibility. Low employment numbers appeared at the same time as the growth of the crude oil prices and Middle East problems did.
But due to Yosuke Hosokawa the United States dollar may remain quite strong in relation to Japanese Yen in case we will consider the possibility of the Japan interest rates growth will decrease. However it will be clear on June 12-13 after the interest rate decision will be taken by the Central Bank of the country.
As for the Euro it was low in relation to the USD however it firmly bid on the downtrend in relation to other currencies. This was caused by the low economic numbers and announcements concerning the possible interest rates growth made by the European Central Bank President last week. However the interest rate remained unchanged after the last ECB meeting.
According to Hosokawa the decline of the interest growth possibility in the US and the similar concerns in the Europe may return these currencies to the $1.6 point. However Hosokawa doubts the possibility of the ECB to increase interest rates because of the Eurozone economy troubles.
The level of the industrial production in Germany decreased by 0.8 percent instead of 0.2 percent predicted.
