Wednesday, September 29, 2010

USD / JPY fell below 84


In terms of loss of confidence in the dollar, it is not surprising to see USD / JPY a failed below 84 this morning. At least in Asian trading amounted to 83.66, near a 15-year low of 82.88, set in the middle of the month. It could be worse for the yen against the backdrop of increased concern in both small as well as large companies, the prospects of a strong yen, which highlighted the report Tankan. Important for all the automotive sector has experienced extremely sharp drop in expectations, highlighting the effect of fracture, which does business sentiment in the sector a strong currency. Weak Tankan increased demand for additional fiscal stimulus, which the Prime Minister Kang announce. On top of the Bank of Japan may consider additional monetary easing at the meeting next week.
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