Yen Weakens as Stocks Gain, Talks About Intervention Intensify
The Japanese yen went down today as the Asian stocks rallied, causing the speculation that the region’s economy continues to grow and damping the demand for the Japanese currency as the safe haven.
The MSCI Asia Pacific Index of regional shares rose 0.3 percent and the Nikkei 225 Stock Average went up 0.2 percent. The Japanese policy makers continue to complaint about the yen’s strength, adding to the reasons to believe in another intervention.
USD/JPY rose from 81.71 to 81.85 today as of 9:37 GMT, following the advance to 82.00.
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Earlier News About the Japanese Yen:
- Yen Strengthens, Causes Speculation About Another Intervention (2010-10-06)
- Bank of Japan Cuts Interest Rates, Yen Weakens (2010-10-06)
- Poor US Macroeconomic Reports Increase Appeal of Yen (2010-09-28)
- Yen Slumps on Talks About Another Intervention (2010-09-24)
- Japan's Yen Falls on Intervention, Stops Decline by Weekend (2010-09-18)
