And from a macroeconomic perspective, having clarity about the size of this group, how many will be able to stay in their home through loan modification and how many will go through bankruptcy or debt settlement is important for the recovery of the housing market and the economy more generally.
In the foreign exchange market, the yen continued to appreciate reflecting the overall downtrend in the U.S. dollar, but has been mixed thereafter since late May due mainly to the news on yen-selling intervention by the Japanese monetary authority.