Yen Tumbles vs. Euro on Signs of Recovery, Rises vs. Dollar

The Japanese yen fell today against the euro as the signs of the economic recovery decreased the demand for the currency as the safe haven and as the European Union may find the way to deal with its debt crisis. The yen advanced against the US dollar.

The MSCI Asia Pacific Index of regional shares advanced 0.4 percent. The EU leaders will end today the summit in Brussels, which began yesterday. They agreed to create the permanent crisis-management mechanism by 2013.

USD/JPY traded at 83.81 as of 10:16 GMT today after opening at 83.91. EUR/JPY jumped from 111.11 to 111.87.

If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *