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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Pound Slumps as House Prices Decline

The Great Britain pound dropped nowadays and dropped heavily as the house prices in Britain tumbled, reinforcing the negative outlook for the united kingdom economy.

Rightmove reported that the House worth Index was down by three.1 % in November from October, following the increase by a pair of.8 % in October from the preceding month. That was the largest drop since November 2010. The drop of the prices was attributed to the negative impact of the european crisis on the arrogance of shoppers and businessmen.

GBP/USD sank from 1.5794 to 1.5642 and GBP/JPY slid from 121.36 to 120.18 as of 13:49 GMT today.
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