Yen Falls on Goldman Sachs gains were bigger than expected

Yen fell against higher-yielding currencies such as the Australian and Canadian dollar on forex online trading as Goldman Sachs Group Inc.´s retail sales rose beyond expectations in June.

Japanese currency kept fluctuating against the euro and dollar after dropping in anticipation of Goldman Sachs´report highlighting the worst might be over.

According to The New York Times Goldman Sachs "earned second-quarter net profits of $3.44 billion."  Goldman´s profit lifted to a $6.8 billion in fix income, currency and commodities.

U.S. retailers beat expectations with a "0.6 percent sales rise in June, boosted by a big jump in auto sales." However, aside autos sales were down a 0.2 percent for a fourth consecutive month decline.

Timothy Geithner, Treasury Secretary, expressed that the government´s policies and those of the Federal Reserve are entirely consistent with a “strong dollar.”

Euro erased its gains versus the yen on fx accounts after the ZEW Center of European Economic Research expressed that German investors and analysts expectations decreased this month to 39.5.