Asia Bizz: US Dollar Stands Affirm Against Yen, For A Span Of Short Recovery
The US Dollar performed better against the Yen which stood for a short span in the international market. The yen was standing on a 15 year high rate against the weakening dollar a couple of weeks back. On the other hand the Bank of Japan is moving ahead with policies to restabilize the yen as it has been surging heavily against other currencies, as a result of which the growth of their economy is being hampered indirectly.
The Bank of Japan had to sell off some yen from the market to ease out the Yen’s massive growth. The Yen was at 83.60 against a dollar last week, which looked positive for US. There has been speculative moves against the Yen policy by the Japanese experts.
The Dollar has been under-performing consistently against many Asian and European currencies, but last weeks positive rise against the Yen, which had ashamed the dollar in the international market, was a good sign after a really long time. The rise in the Yen was seen as a direct effect on the country’s exports and international trade. The IMF on the other is going to talk about the countries who are weakening their respective currencies to gain stability in foreign trade.