forex expecting corporate recovery: yen, dollar down

Yen and dollar decreased on forex trades against major counterparts, after global stocks rose on expectations of more corporate earnings, leading traders to take riskier assets.

Goldman Sachs Group Inc. reached the highest quarterly profit in its 140-year history, announcing it has gathered $11.4 billion so far to compensate its workers. On this stage Goldman employees could earn $770,000 this year.

Japan´s currency slid for the third consecutive day versus the euro while the pound reached the highest level versus the dollar in nearly two weeks following a small increase in U.K. jobless claims.

Yen declined to 131.76 per euro on early forex New York trades, while dollar slid 0.9 percent to $1.4088 per euro. Yen suffered little change versus the dollar.

Dow Jones industrial average gained 176 points 2 hours into the session. S&P 500 Index added 19 points, while Nasdaq composite rose 49 points.

U.S. Overview

Factory production in the U.S. decreased 0.4 percent in June, as the Federal Reserve reported today.

The Empire factory index, a measurement of New York´s production fell 0.6 percent in July after a previous sliding of 9.4 percent in the previous month.