The yen may continue falling against its most traded counterparts in Currency Trading Accounts

 

The yen may continue falling against its most-traded counterparts in Currency Trading Accounts after speculation about Ben Bernanke (Federal Reserve Chairman) will be confirmed for a second term. It will probably increase demand for higher-yielding assets.

Japanese currency also decreased yesterday for the first time in eight days against the euro after a potential announcement of the Bank of Japan, which is prepared to consider expanding an emergency-loan program for banks.

The dollar increased after a one-month low against the yen after a forecast made by some economists to show U.S. consumer confidence rose in January.

Gold prices rebounded on speculation that the dollar will retreat, boosting the appeal of the precious metal as an alternative investment.

The greenback has little changed against a basket of six major currencies since reaching a five-month high on Jan. 21. Gold is up 21 percent in the past year, while the dollar dropped 8.7 percent.

 

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