Yen Slumps Because of Intervention
The Japanese yen tumbled today, posting the biggest decline in more than two years, as the nations of the Group of Seven announced that they will jointly intervene in the
Japan’s Finance Minister Yoshihiko Noda said that his country intervened and other nations would do the same when their markets would open. This is the first such intervention in more than a decade. Today’s slump of the yen was biggest since October 28, 2008.
USD/JPY jumped from 79.08 to 81.48 today as of 10:49 GMT after reaching the intraday high of 81.93. EUR/JPY traded at 114.86 after climbing from 110.86 to 115.49.
If you have any questions, comments or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.
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EUR/JPY, G7, Intervention, Japan, USD/JPY, Yen, Yoshihiko Noda
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Earlier News About the Japanese Yen:
- Yen Jumps on Fears of Radiation Leak from Nuclear Plant (2011-03-15)
- Forecast: Yen May Go Down on Intervention and BoJ Rates Decision (2011-03-14)
- Japanese Yen Drops as Central Bank Pumps Money (2011-03-14)
- Yen Appreciates as Tremor Boosts Demand for Safety (2011-03-11)
- Yen Weakens as Global Economy Grows (2011-03-09)
2 Comments
any chances of yun to get up.i hat one cfd in 82.20 and waiting for it up.
Hmmm… If you bought yen when USD/JPY was at 82.20 you are already in profit despite the latest correction.