Wednesday, June 2, 2010

Hatoyama resignation tanks Yen

I guess political turmoil in the worlds 2nd biggest economy is starting to weigh on the safe-haven status of their currency.

(CUR_USDYEN 92.1300, +1.1600, +1.2750%) bought �92.13, up from �91.02 late in North American trading Tuesday, while one euro bought �112.54, up from �111.40.

That was a 1.27% weakening in just one day. I wonder if more money will flow out of the Yen until Japan can get some kind of handle on their political situation?

0 comments:

Post a Comment