Asia Bizz: Japanese Prime Minister Naoto Kan Warns Of Strict Action Ahead Against Yen
Prime Minister of Japan Mr. Naoto Kan has stated that it will be taking strict action against the Yen if the currency behaves very sharply. It will be an effective move to ease down the tensions between the traders and the Yen, and especially its performance against the US dollar. It was during last week, when the government of Japan sold of a lot Yen, for the first time in six years.
The Yen was at the strongest in 15 years against the Dollar and some other notable currencies of the world. But the rising Yen wasn’t a beacon of hope to Japan, but rather a danger to the wobbling economy that it trying to sustain itself.
The Federal reserve has stated that it will be stimulating the US economy further more, in a hope to stabilize the economy and the dollar. Experts have stated that the situation of the Yen at the moment still below the margin of being intervened or being sold out once again by the government.