FX Week

Market awaits Japan loan package

Financial Services minister Heizo Takenaka delayed releasing an interim report into the bad loan situation last Tuesday (October 22), weakening the currency. Speculation circulating the markets suggests that any hard-hitting plan might lead to a string of bankruptcies in Japan.

Disappointment

"There has been a bit of disappointment that the report was delayed," said Jake Moore, currency strategist at Barclays Capital in London. "But people have also been taking profit on short yen positions, a