JPY hit 13-year high against the dollar

Japan continue to monitor its currency strength as YEN hit a 13-year high (87.10) against the dollar on Wednesday. When ask if Japan is going to intervene in the market, Japan’s Vice Minister for International Affairs, Naoyuki Shinohara refuse to comment.

Japan’s exports plunged a record 25 percent in December due partly to the strength of YEN. Although Japan has not intervened in currency markets since 2004, this time it might be forced to do so.

Meanwhile G7 is likely to discuss on the falling British pound at the meeting of finance ministers in February.

Related posts:

1. Euro to a 6-week high against dollar Share The EURUSD is back to trade above the important...
2. Sterling to a 8 year low against U.S dollar Share (9:00 GMT) The panic in the British banking system...
3. Dollar opens the week on the high side Share 10:00 GMT The market opened  Sunday night with continued...
4. Yen to a 5 week high against Dollar Share As expected the yen is gaining as a result...
5. Pound Advances against dollar, testing resistance at 1.5 Share The British Pound continued its rally today in accordance...