The Japanese yen fell today as deal was reached about the Iranian nuclear program, allowing the Middle Eastern country to enrich uranium for peaceful purposes.
Iran agreed to limit is nuclear program, allowing the country to use it for energy purposes, but preventing creation of atomic weapons. In exchange, Iran asked to lift sanctions on nation’s exports. The deal was welcomed by the Forex market participants, who felt less need for safety and, consequentially, for the yen.
USD/JPY was up from 101.28 to 101.72, trading near the highest level since May 29, while EUR/JPY rose from 137.23 to 137.48 as of 9:41 GMT today after touching the high of 137.97 — the strongest price since October 2009.
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