Fears of a melt-down in USD/JPY have eased this far this week as MOF officials have taken to the wires several times to jawbone down the JPY. The bounce from ahead of 90.00 has eased jitters quite substantially, traders say. Evidence of that view is steady buying of USD/JPY from US real money accounts on dips today. This is helping USD/JPY recover to the 91.25 level after dipping to 91.10 earlier this morning. 91.63 is the session high from early in NY trade.
In his final comment from Brokkings, Bernanke said the recession is probably over, but he said the economy will grow slowly so it won’t feel like much of a recovery.
