Fall of US dollar and Japanese yen

Latest news on Fall of US dollar and Japanese yen

The US dollar and Japanese yen both dropped low on Monday, although the yen was the weakest of the majors, as investor sentiment kept on building in spite of the fact that General Motors Corp. filed for bankruptcy protection predictably, presenting .3 billion in assets and 2.8 billion in debt, with the US government put to hold a 60 % stake in the new entity by exchanging the volume of its billion worth of loans. Risk appetite was so heavy that the DJIA rallied 2.6 % for a test of its 200 SMA at 8765 whilst the S&P 500 as well went up by 2.6 %, to break over its 200 SMA at 927, but closing under its previous 2009 high of 943.85.

Reviewing the day?s US fiscal data, the Commerce Department stated that personal earnings increase went up by 0.5 % throughout April, but with the savings rate at the present went up to a 14-year high of 5.7 %, private expenditure went down negative for the second consecutive month at a rate of -0.1 %.
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