Yen fell against the USD Save as data recovery service accounts

August 18 (aktiencheck.de AG) - Dollar falls on a second straight week against the yen after reports showed the largest acquisition of the world economy stalled, could increase the attractiveness of the Japanese currency as a refuge.

Yen hits 15-week high this year, the purchase of existing U.S. homes fell two times the budget, new home sales fell unexpectedly and orders for durable goods rose less than expected. Swiss franc, another currency Haven, took part as well. A government report next week may show the economy lost jobs in August for the third month.

"Economic recovery has shown us that," said Boris Schlossberg, director of currency research at GFT Forex online stores in New York. "Next week will see a highly concentrated market, like us."

The U.S. currency fell 0.5 percent to 85.22 yen in New York, from 85.62 yen in the 20th week of August. ¥ 83.60 hit on August 24, the lowest level since 1995, lost 1.4 percent for the month. Dollar lost 0.4 percent to $ 1.2763 per euro from $ 1.2712 last week. Japan's currency rose 0.1 percent to 108.72 per euro, from 108.83. Franco ended the week up 0.2 percent to 1.3119 per euro, after touching a record high of 1.2972 August 25th.

Some coins have traditionally been on the rise of global growth in profits during the week after posting profits rose yesterday as stocks. The SEC hopes to all 16 members of the most actively traded companies to follow the New Zealand dollar. The Crown rose 1.1 percent to 7.3391 per dollar, while New Zealand's currency rose 0.6 percent to 71.09 U.S. cents. The Australian dollar is the No. 4 player, just below the franc and strengthened 0.6 percent to 89.89 U.S. cents.

Advance peeled

yen cut the early weeks, as promised yesterday by the Federal Reserve, Ben S. Bernanke, the Chairman, the central bank report showed economic recovery and to maintain U.S. economic growth slowed in the second quarter fell less than expected. Standard & Poor's 500 rose 1.7 percent, more than three weeks.

Yen also weakened Prime Minister Naoto Kan, said Japan was ready to "bold" steps to reduce its value. The yen has risen 14 percent this year with the largest gains in the developed world counterparts, according to Bloomberg correlation-weighted index of currencies. Central banks intervene in currency markets to buy or sell currencies to influence exchange rates.

Japan last intervened in March 2004, when about 109 yen per dollar. 14800000000000 Bank of the Japanese yen in the first three months of 2004 sales, after record sales of 20.4 trillion yen in the year 2003. Currency ended the year at 102.63 against the dollar. Japan's currency was last purchased in 1998.

"Intervention is ready"

Yen fell yesterday against all members of the most commercial.

"Open the short term, the market does not want to bet against the Bank of Japan because it shows that even wants to intervene," said Stephan Mayer, an analyst at Unicredit Spa Milan money.

Bernanke said the Fed "will do all it can" to ensure continued economic recovery. He said governors from around the world with the annual symposium of the Kansas City Fed's monetary policy in Jackson Hole, Wyoming.

Last year economic growth was "too slow" and unemployment "is too high," Bernanke said. However, the transfer of tax incentives and the supply of treasury stock for private consumption and business investment is placed "on the road," he said.

"The two dodged bullets"

"Dollars to avoid actually two balls," said Joe Manimbo, a market analyst in Washington at Travelex Global Business Payments, net of foreign exchange. "Growth in the U.S. for the second quarter, which came out a touch higher than expected, which helped reduce the number of serious concerns about the U.S. economy will be reviewed." Bernanke's comments, "because he claimed that a new impetus for the U.S. economy, support for the dollar as well," he said.

100 000 U.S. employers eliminated jobs in August, the average estimate of 59 economists in a Bloomberg survey before the U.S. Labor Department data on 3 September. Employers cut last month and 131 000 221 000 jobs in June.

"Fear of a slowing U.S. economy will not go away," said Nick Bennenbroek, currency strategist at Wells Fargo & Co. in New York.

Purchases of existing homes fell a record 27.2 percent reported in July, the National Association of Realtors August 24. Rate of new home sales fell to 276 000 annual rate, the lowest since data began in 1963, according to figures from the Commerce Department the next day. won durable goods orders up 0.3 percent last month, Commerce said on August 25, compared with an estimated 3 percent of the Bloomberg survey.