The surging yen has been the main feature in the foreign exchange market in recent days, but its advancing streak has been stopped with today's setback. The greenback traded briefly dipped below JPY107.70 in North America yesterday but has not been below JPY!08 today. It is near JPY109 as NY dealers return to their posts. Japanese officials may have ratcheted up their rhetoric a notch, but the ultimately it simply seems the yen buying dried up. Either the demand at the beginning of the fiscal year has been met, or sharp yen rise encouraged buyers to pull back. The dollar's upticks look corrective in nature, and it... READ MORE
