Majors

Majors: The Japanese Yen moved higher overnight against the big dollar (91.14) on market concerns as to the pace of the Federal Reserve’s stimulus withdrawal. Speaking in San Diego yesterday, Fed Bank of San Francisco President Janet Yellen said the U.S. economy will operate below potential this year and that “for the time being, the economy still needs the support of extraordinarily low rates”. Meanwhile, the greenback also rose against the Euro (1.3600) as the market awaits clarity on the Greece situation after the European Union denied there were any plans at this stage for a bailout