Monday, 21 November 2011

Yen Profits from Debt Problems of Europe & USA

The Japanese yen rose against the euro and fluctuated versus the dollar as considerations about the US debt added to uncertainty caused by the ecu crisis.

Rumors say the US Congress may announce that its members failed to reach agreement about spending cuts required to reduce the budget deficit. Spain was one more European country to lose government as the ruling Socialist Party lost election on the weekend. the quality & Poor’s five hundred Index fell one.5 percent, whereas the Stoxx Europe 600 Index dropped two.1 percent, declining for the third day.

USD/JPY traded near its opening rate of 76.85 as of 12:31 GMT today after rising to the high of 76.94 and falling to the low of 76.75. EUR/JPY was down from 103.84 to 103.38.

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