Yen Rises vs. Dollar Ahead of G-20 Meeting

The Japanese yen extended its rally against the US dollar on the speculation that Japan wouldn’t intervene to weaken the currency before the Group of Twenty meeting.

The leaders of the nations from G-20 will meet this week and will likely discuss the so-called “currency war”, the “race” of the countries to devaluate their currencies. It’s considered unlikely for any country of G-20 to weaken its currency ahead of the meeting. And without the intervention the yen may rose to the next record against the dollar.

USD/JPY fell from it opening level of 81.43 to 81.18 as of 9:32 GMT today.

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