British Currency Strengthens To 2-week High Against Yen [GBP/JPY]
4/18/2008 3:42:13 AM The pound reversed its direction against the yen after hitting a low of 203.63 by about 10:45 pm ET. The pair is now trading at a 2-week high of 204.74. The pound-yen pair closed Thursday`s New York session at 204.21.

The Bank of Japan Gov. Masaaki Shirakawa said today that the Japanese economy is slowing and uncertainty surrounding the global economy is increasing. Shirakawa said that inflation likely will follow its current trend, so the BoJ will have to continue to carefully monitor the global economy. The BoJ will implement policy based on the economy and inflation, he said

The Japanese consumer sentiment index improved in March with the reading increasing slightly to 36.7 from 36.1 in February. Economists had expected the indicator to rise to 37.4. A year ago, the indicator stood at 46.8.

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