Forex | Forex | USD down despite BIS warnings (30/06/2009 00:04:00)

USD down despite BIS warnings

FXstreet.com (Buenos Aires) - Optimism and risk appetite continue in early Asia, with Dollar and Yen down across the board, despite the BIS warned early Monday there is a risk central banks will raise interest rates and withdraw emergency liquidity too late, triggering inflation, and monetary and fiscal stimulus measures are destined to achieve only a temporary uptick in growth, followed by a long period of stagnation.

In the next minutes, Japan will publish the May jobless rate, expected to rise to 5.2% from 5.0% in April, Nikkei poll of economists indicates. Though Japanese economy believed to have hit its bottom in the first quarter of the year, the fact is that many economists are expecting unemployment to rise as much as 5.5%.

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