Economic Recovery Makes Safety Unnecessary, Yen Struggles
South Korean Won Becomes Stronger with Better Global Economy
EUR/JPY Goes Up on Interest Rates Prospects
The euro advanced against the Japanese yen today on the speculation that the European Central Bank will raise the interest rates on its next meeting, while the Bank of Japan will likely keep its rates unchanged. The currency slipped versus the US dollar.
The good economic data supports the anticipation of higher interest rates. The consumer spending in France rose 0.9 percent in February, while the inflation in Germany is expected to show strong growth.
EUR/JPY rose from 115.09 to 115.89 as of 13:12 GMT today. EUR/USD retreated to 1.4059 after rising earlier from 1.4086 to 1.4148.
If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.
Tags
Bank of Japan, EUR/JPY, EUR/USD, Europe, European Central Bank, France, Germany, Inflation, Interest Rates
Categories
Earlier News About the Euro:
- Week of EUR/USD Weakness (2011-03-26)
- Euro Slips as Bailout Funds are Cut (2011-03-25)
- Euro Rises vs. Dollar as EU Summit Begins, ECB Rates Hike Expected (2011-03-24)
- Euro Rises as Traders Await Interest Rates Hike by ECB (2011-03-22)
- Can Euro's Rally Run Out of Steam? (2011-03-21)
