Published by Zeb BhamThe yen traded higher against the dollar in the Asian trading session this morning (July 6th) as long-term investors reacted to the news that China bought around Y200 billion worth of Japanese government bonds in April.Speaking to MarketWatch, Satoshi Tate, a senior foreign exchange dealer at Mizuho Corporate Bank, said that although life insurance firms and pension funds were bullish about the bond sale, there is scepticism about the overall impact it will have on the market."Y200 billion wouldn't be able to move the yen market if you consider the overall trading volume. This China thing won't have a lasting impact on the currency market," he predicted.Forex brokers will now be looking ahead to a raft of US economic data due out this week, including the Institute for Supply Management's non-manufacturing purchasing managers' index due out later today.Unemployment claims will also guide foreign exchange trading in the dollar-yen currency pair when they are released on Thursday (July 8th).For more information on foreign exchange treasury services and risk management, visit our Corporate FX site