Asia Bizz: The Dollar Dips To A 15 Year Low Against Yen, As Prime Minister Naoto Kan Wins In Japan
The Dollar has fallen face forward once again and this time it has fallen to a 15 year low against the Yen, and specifically the effect came after Prime Minister Naoto Kan won in the votes once again in Japan. The dollar figures went as low 83.09 yen, and the experts state that after the Kan win, it seems there will be more political and financial certainty.
But if the American analysts are thinking whether the dollar will be recovering very strongly against the yen, then this concept is surly very short lived. Even though the dollar showed some resistance against the yen on Monday at a peak of 84.43, but it look it just might not be strong enough to sustain the yen.
Experts state, that the market had been viewing and monitoring Kan’s votes, and after his win the Yen autonomously shot up, and it looks it will be moving higher and higher, as the dollar keeps weakening. And speaking frankly about the dollar, it looks that the dollar has certainly been struggling Â in the market as it hit a nine month low against the Swiss Franc and a whole month low against a host of many currencies.