FX: Dollar Hits Three-Month High Versus Japanese Yen
The USD JPY surged to the upside overnight, taking out the late October high at 92.32, on its way to a three-month high. Concern over a potential bankruptcy filing by Japan Airlines is putting pressure on the Yen. Stories are also circulating that Japan’s AA rating is in danger of being cut if the country does not shore up its debt situation. Finally, traders are also factoring in potential action by the Fed in 2010 that will lead to higher interest rates and a stronger Dollar.
