Voice of the Customer

TMCnet - The World's Largest Communications and Technology Community
 
| More
Voice of the Customer Featured Article Archive

TMCNet:  Dollar trades around 107 yen line in Tokyo morning deals+

[September 04, 2008]

Dollar trades around 107 yen line in Tokyo morning deals+

(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, Sept. 5_(Kyodo) _ The U.S. dollar traded around the 107 yen line Friday morning in Tokyo, after falling sharply overnight on growing uncertainty over the U.S. economic outlook due partly to deteriorating U.S. employment conditions.

The euro fell to a 10-and-a-half-month low against the dollar and a 13-month low against the yen after the European Central Bank slashed its eurozone economic growth forecast for 2008 and 2009.

At noon, the dollar fetched 106.95-107.00 yen against 107.05-15 yen in New York and 108.33-36 yen in Tokyo at 5 p.m. Thursday.

The euro traded at $1.4272-4277 and 152.67-72 yen versus $1.4320-4330 and 153.37-47 yen in New York and $1.4536-4539 and 157.50-54 yen in Tokyo late Thursday.

After declines in New York on Thursday, the U.S. currency suffered further losses due to plunges in U.S. stocks, temporarily falling to the 105 yen territory during early Friday trading overseas, dealers said.

The dollar later rose close to the 107 yen line in Tokyo on buying on dips by Japanese importers, they added.

But the dollar's basic tone remained bearish after Japan's key Nikkei stock index plunged more than 300 points during the morning session.

"The plunge in the stock markets dampened investors' appetite for risks and prompted them to unwind leveraged yen carry-trades," said Osamu Takashima, chief analyst of the global markets sales and trading division at the Bank of Tokyo-Mitsubishi UFJ.

In yen-carry trades, investors borrow the low-yielding yen to fund investments in the dollar, the euro and other higher-yielding currencies. In unwinding such trades, investors liquidate those assets and buy back the yen.

The euro weakened amid fears about a possible slowdown in the European economy. The single European currency fell to 151 yen territory at one point, its lowest level against the yen in Tokyo since August last year, and dropped to the $1.4200 level, a level unseen since October.

The euro was battered after the ECB on Thursday downgraded the eurozone growth forecasts and ECB President Jean-Claude Trichet made bearish remarks about the eurozone economy.

Trichet said the economy is stuck in a "trough," while noting a slowing in corporate and household demand in the eurozone.

Copyright ? 2008 Kyodo News International, Inc.

[ Back To Voice of the Customer Community's Homepage ]


FOLLOW US

FREE Voice of the Customer eNewsletter

Subscribe Now

Featured White Papers

  • Seven Best Practices for Speech Analytics: Speech analytics is valuable for identifying issues in the contact center. However, limiting its use to the contact center only considers a portion of all customer interactions and subsequently only reveals a small part of the voice of the customer. This paper discusses how organizations can optimize their Speech Analytics implementation strategy to realize the promise of this exciting technology.
  • Understanding the Voice of the Customer: Today's contact centers involve a sea of information that must be captured, processed, and distributed on a daily basis. Effective use of this information enables companies to remain competitive in an increasingly aggressive and customer centric marketplace. An overwhelming percentage of the information that circulates in a contact center's audio recordings, documents, web pages, and emails is unstructured in that it resides outside of a normal structured database and cannot be managed efficiently. These unstructured items contain valuable information, yet this information historically has been difficult to organize, categorize, and access.

Case Studies

  • Aflac: Aflac, the leading provider of guaranteed-renewable insurance turned to Autonomy to help them automate the process of monitoring their contact center agent for quality and compliance. The company now has a system that can offer continued improvement in agent quality and productivity while enhancing the customer experience. ...
  • Avaya: Avaya, a global leader in business communications, inherited 880 websites as well as numerous intranets and extranets when it was spun off from Lucent Technologies. The sheer volume and diversity of the sites and the over 500 content creators resulted in inefficient content distribution rife with divergent branding, messaging, and product information. ...

Video Showcase

    Interview with Autonomy: Rich Tehrani interviews Simon Hayhurst, SVP of Autonomy

Featured Events

  • Multichannel Analytics with Autonomy Explore: In today's world of constant connectivity there are a variety of direct and indirect channels of communication between an enterprise (or a brand) and its customers. 80% of these valuable interactions are generated in a human-friendly, unstructured format across multiple touchpoints and channels. With this ever growing mountain of information how do you extract the emerging trends and topics of interest to the enterprise? ...
  • SES Chicago 2011: Marketers and SEO professionals attend SES Chicago each year to network and learn about topics such as PPC management, keyword research, SEO, social media, local, mobile, link building, duplicate content, multiple site issues, video optimization, site optimization, usability and more. The conference offers 70+ sessions, intensive training workshops, and an expo floor packed with companies that can help you grow your business. While you're at it, network with peers and leading industry vendors. Programmed by the SES advisory board, you can be assured - SES content really is king! ...
 
 
| More