WORLD FOREX: Yen gains in exchange for the return of land and the status of Chrysler News

Yen to get back what was lost overnight, and the dollar and euro on Friday after more bad news and showed the United States in the automobile industry.

After the Wall Street Journal reported that the Ministry of Finance talks with lenders to keep the bankruptcy of Chrysler LLC was organized in a number of players dumped the yen against the euro and the dollar because it is not safe in terms of currency.

Although the foreign exchange market, which was largely a failure of the problem is the price of the car was the maker of a few players left to believe that Chrysler could avoid this result, traders said.

"A few of the players believe that Chrysler could be avoided through the Chapter 11, but this optimism carry the news" Kazuyuki Takami senior foreign exchange dealers are the Bank of Tokyo-Mitsubishi UFJ.

Concern that this development may be in conflict with the United States and the global economy, and these are sold to the dollar and the yen, driving the green at the height of the previous Y97.15 and Y97.87 euro lowest Y130.25 to Y128.93.

At 0450 GMT, the United States is the only Y97.32, while the euro Y129.19.

But traders said the Japanese unit of DaimlerChrysler profit the incident may be limited.

"News from the Wall Street Journal editorial prompted the transfer of risk" Yuji Saito, head of foreign exchange group Société Générale. "But the risk of Chapter 11 and the great price, and therefore, it is likely that the mere sale of responses Jerko knee in response to that is not anymore."

Wine, but could continue to receive at the end of the week, participants may buy the Japanese before the Golden Week holiday / Japanese in the next week, expressed concern about the events that took place in that time I lifted the currency.

"I think that the high yen and the weakness of the dollar is now in jeopardy, and the pressure from the United States, the bank expected results next week in the middle of Golden Week, and the threat of swine flu could spread, we are asking more of the risk" Yuzo Sakai, head of foreign exchange in Tokyo Company Forex & Ueda Harlow.

For these reasons, it can be difficult Y98 green rose, while the euro Y130.20 thick cover for the weekend, he says. Monday to Sunday is the day a public holiday in Japan.