Reportedly, Japanese Yen has touched the weakest level versus the US dollar since June 2010 while Japanese Prime Minister Shinzo Abe seeks to accelerate the currency’s decline.
Japan’s currency slid beyond 120 per EURO for the first time since May 2011 after Shinzo Abe want to push through bold monetary policy.
Analysis point that the changes are significant and have been working against the yen, meanwhile the news is in line with everything they have heard before.
The yen declined 0.3% to 89.48 per dollar at 5 p.m. New York time and reached 89.67, the weakest level since June 25, 2010.
Japan’s currency fell by 0.6% to 119.74 per euro and reached 120.13, a level not seen since May 4, 2011.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62569&division=A6
