Japanese currency trade is a post from: Forex News
The Japanese currency yen has climbed from its position which was almost its weakest in the last four years versus the dollar. The yen overcame most of its 16 notable peers in the world economy. This comes shortly after the Japanese economy minister; Akira Amari commented that any further loss in the currency will have adverse effect on the people. He also said that the government will do its job of minimizing it.
Akira Amari said to the public broadcasters NHK that there have been talks about the excessive yen gains being corrected a lot. According to him if the loss of the yen extends then it will negatively affect people’s lives and it is their job to minimize that negative effect. In London, till 06 : 49 am, The yen rose almost 1.1 percent, ultimately trading at 0.5 percent higher with 102.67 per dollar.
In the last six months, the Japanese yen has dropped 20 percent. According to sources it is the worst performance among currencies of the main developed nations. The dollar and the Euro has gained 3.5 percent and 3.8 percent respectively. Japanese officials have issued caution against the weakening of the yen too much too often.