Asian Session – Yen weakens as G20 fail to criticize Japan’s monetary policies
April 19, 2013 7:43 am
The Asian session was fairly quiet as is usual for a Friday, with most currency pairs consolidating. Investors were being cautious as they closely watched the G20 meeting.
Japan’s finance minister announced that there were no oppositions against Japan’s monetary policies.
Aso’s comments led to a weakening of the yen by 0.3 percent against the dollar and 0.4 percent against the euro.
The reason is that with no obstacles for the Bank of Japan to continue implementing monetary easing, this will lead to a weaker yen.
USDJPY rose to a high of 98.66 in the Asian session and advanced higher going into the European session.
EURJPY reached as high as 128.92 and began surging in the European open.
The Asian session was fairly quiet as is usual for a Friday, with most currency pairs consolidating. Investors were being cautious as they closely watched the G20 meeting.
Japan’s finance minister announced that there were no oppositions against Japan’s monetary policies.
Aso’s comments led to a weakening of the yen by 0.3 percent against the dollar and 0.4 percent against the euro.
The reason is that with no obstacles for the Bank of Japan to continue implementing monetary easing, this will lead to a weaker yen.
USDJPY rose to a high of 98.66 in the Asian session and advanced higher going into the European session.
EURJPY reached as high as 128.92 and began surging in the European open.
AUDJPY hit 101.93 from 100.87.
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