Corporate foreign exchange news

US retail sales 'could impact foreign exchange risk management'

Wednesday, 16 September 2009 09:50:25 GMT

Investors' foreign exchange risk management appetites could be set to change due to retail sales in the US, reports Bloomberg.
The claims follow figures published by the US Commerce Department in Washington, which saw retail sales rise by 2.7 per cent over the past month.
An earlier decline of 0.2 per cent in July is reversed by the figures and, Bloomberg predicts, could come to bear on investors' approach to foreign exchange risk management.
Key to the change is the performance of the yen, as it is expected to lose ground to other major world currencies in the days to come.
The news provider reports "speculation [that] the biggest gain in US retail sales in three years will encourage investors to sell the currency and buy riskier assets".
Yen previously lost a little ground after the Japanese vice finance minister, Yasuatake Tango, told Dow Jones that officials are paying "close attention" to the currency, MarketWatch reported.ADNFCR-2522-ID-19362948-ADNFCR
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