If the exchange rate
moves against the yen, the trader would profit more.
Not exact matches
The dollar hit a 10 - day high
against the
yen in overnight trading, but reversed that
move, touching its session low after Dudley's remarks.
The
Yen is still on the
move, after yesterday's short squeeze in the USD / JPY, as the safe - haven currency regained some of the recently lost ground
against its peers.
In particular, the Australian dollar fell to around US63 cents by late August as investors
moved out of the currency into the rapidly appreciating
yen; the bilateral rate
against the
yen fell from 82 to 70
yen over the same period.
For example, the euro could
move up
against the dollar to 1.30, but fall
against the Japanese
yen from 98 (one euro = 98
yen) to 96.
In the currency markets today, the U.S. dollar
moved up to multi-year highs
against the Japanese
yen and other major currencies as Federal Reserve Chairman Ben Bernanke made comments that the U.S. central bank could slow down its asset purchasing program soon.
We see scope for around a 5 to 7 % depreciation of the
yen as the dollar
moves into a new trading range
against it, while the dollar stays range - bound
against the euro.
To help safeguard
against bitcoin's volatility, many members use Uphold to instantly
move between bitcoin and into one of the more stable fiat currencies, such as the U.S. Dollar or the Japanese
Yen.