US Dollar gains against yen
On Monday, the US currency gained against yen following a low opening of shares in Freddie Mac and Fannie Mae.
Fannie Mae was 78.8 percent down at $1.48 whereas Freddie mace was 70 percent down to $1.50, in early New York. While in response, dollar was down to 108.21 yen
Sunday witnessed a takeover of two mortgage lending giants by the government of United States of America. The step is being seen as a relief or rescue from battered economic sector. Following the decision the US stock indexes moved up sharply. According to analysts, S&P 500 had comparatively an indifferent opening in contrast to what was predicted by market.