Yen demand still high

Dollar-yen withstood a bilateral last week, hammered by events on foreign shores and at home First came the Bank of Japan's steadfast refusal to do anything about the yen problem, which is a reflection of a still-tight monetary policy. The yen has appreciated against every world currency since the start of the year as demand swamped the available supply The second attack came at the start of New York trading, when the US Commerce Department reported a widening in the July trade deficit to yet another record of $25.2bn. That means more dollars going overseas (for the purchase of goods and ...