japan currency

Reducing of the national currency. The Japanese yen fell to a 2-week low against European currencies before the release of data on the confidence of European investors, which is expected to grow to a maximum value over the past 3.5 years in Germany, which reflected in the increase of the demand for higher-yielding assets. The dollar is growing against the euro for the second day whereas market participants are convinced that the dollar’s decline to a two weeks minimum was a bit exaggerated. Moreover, the Fed’s decision to gradually withdraw from the policy of financial stimulation has affected the dynamics of a reserve currency. The Australian dollar is at 14-month high against the U.S. dollar, investors expect the interest rate increase by the Reserve Bank of Australia. “Japanese investors are still counting on profitable investments abroad. This will affect the Japanese yen “, - said Narifumi Yoshida, vice president of sales department of Mizuho Corporate Bank Ltd Singapore. “Currency rates movements today may not reflect the realities of the market, as there are holidays in the United States, Canada and Japan now”, - added Yoshida.