Yen Goes Down as G20 Meeting Reduces Need for Safety
The Japanese yen weakened today as investors preferred
The leaders of G20 approved parts of the plan presented by the European Union policy makers. The plan includes writing off parts of the Greek debt, reinforcing the European banks and boosting the European Financial Stability Facility. The deadline for completing the rescue plans for the EU was set on October 23, when the summit of the EU chiefs is scheduled. The Stoxx Europe 600 Index gained 1.4 percent.
USD/JPY rose from 77.06 to 77.24 today as of 10:36 GMT. EUR/JPY traded near 106.70 after opening at 106.86 and touching the intraday high of 107.67.
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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Earlier News About the Japanese Yen:
- Yen Rises as Chinese Export Growth Slows (2011-10-13)
- Japanese Yen Weaker Against Most Currencies (Not the Dollar, Though) (2011-10-10)
- Yen Weaknes as Risk Aversion Fades on Eurozone Expectations (2011-09-27)
- Bad Week for Global Economy, Good Week for Yen (2011-09-24)
- Yen Gains as China Imposes Conditions on Help to Europe (2011-09-14)
1 Comment
OK, it seems that everyone has tried and failed to make money on a eventual collapse of the yen due to the unsustainability of the debt level. With all the global focus on Greece as a potential contagion why hasn;t there been more clamor and concern raised over the what appears to be significantly larger and even worse situation in Japan?