Jean-Claude Trichet (European Central Bank President) said that “it is extremely important to have a strong
U.S. Dollar”, in order to maintain an economic stability in financial markets. As a consequence, the yen may decline after getting an eight-month high against the dollar yesterday after U.S. equities gained.
The euro may increase against the Japanese yen for the first time in six days before a Government report forecasted an improvement in economic confidence in September 2009; these positive expectative could bring a rise in national income, something called by economists as “self-satisfied economic expectative”, a process in which good economic goods create trust in consumers and it brings more positive news for the market.
The U.S. dollar declined against most of its currencies partners in online trading accounts. The Dollar Index dropped at 75.827 on Sept. 23, near a lower level of 75.89 on Sept. 22, 2008. The down trend recovered from those levels, rising at 77.255 on Monday, which id coherent with Mr. Trichet´s announcement.
b8ff5a53-24d3-4de3-99a0-b434d727badf|1|5.0