Stock:
Symbol Lookup
Register | Login My Watchlist | My Account | Logout
History
to View Your Portfolio

Pre Market | Dow Jones | Gold | Newsletters | Learn


Forex Market Update: Yen Falls Against Euro and Dollar

Tuesday, February 12, 2013 9:02 AM
The Japanese yen fell against the euro and the U.S. dollar in early trading on Tuesday following a statement from G7 countries. The euro, meanwhile, edged higher against the dollar. In recent weeks, there have been rising tensions over currency wars as central banks across the world implement additional monetary easing measures. While in the U.S., the Federal Reserve has pledged to continue with its aggressive bond buying program for a considerable period, in Japan, the Bank of Japan (BOJ) has come under increasing pressure from the new Prime Minister, Shinzo Abe, to implement further monetary easing measures to boost economic growth and fight inflation. The European Central Bank (ECB) has also kept interest rates at record low; however, it has not been as aggressive as the Fed and the BOJ. Although the Fed and the BOJ have implemented measures to boost economic growth, some policymakers, especially in Europe, have complained that this would lead to currency wars. The G7 today said in a statement that it remained committed to market-determined exchange rates while agreeing that disorderly exchange rate movements and excess volatility can harm economic and financial stability. Speaking to Reuters, Valentin Marinov, Head of European G10 FX strategy at Citigroup, said that the G7 statement indicates that there will be little attempt to single out Japan as a currency manipulator at the G20 meeting as long as the Japanese polices deal with domestic issues like deflation and are not targeting the yen. At last check, the euro was trading 0.3% higher at `126.80 yen. The single currency is trading close to its three-year high of 127.71 yen, which it reached last week. The dollar, meanwhile, was trading at around 94.30 yen, close to its 33-month high against the Japanese currency. The euro edged higher against the dollar. At last check, the single currency was up 0.4% to $1.3455.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2016 the year you get RICH!

Latest Headlines

Indian GDP data to show economy racing, realities less rosyIndian GDP data to show economy racing, realities less rosy
NEW DELHI (Reuters) - India will release data on Monday showing it remains one of the fastest growing economies in the world, but economists are struggling to reconcile that rosy picture with ground...
Dollar enjoys post-payrolls glow in quiet start to weekDollar enjoys post-payrolls glow in quiet start to week
SYDNEY (Reuters) - The dollar held onto its post-payrolls gains early on Monday in a sluggish start to the week with the Lunar New Year holidays and the Super Bowl game all but guaranteeing a tepid ...
Iran says Peugeot to pay $446 million compensation for sanctions moveIran says Peugeot to pay $446 million compensation for sanctions move
DUBAI (Reuters) - French car-maker PSA Peugeot Citroen will pay Iran over 400 million euros ($446 million) in compensation for losses after it quit the country due to sanctions, the managing director ...
Who Does Wall Street Think Will Win Super Bowl 50?Who Does Wall Street Think Will Win Super Bowl 50?
With Super Bowl 50 just a few hours away, who`s everyone picking for the big game? The Carolina Panthers bulldozed through the NFC. They went 15-1, led by near-unanimous MVP, quarterback Cam Newton....
Prolonged oil slump sparks second wave of cuts to 2016 budgetsProlonged oil slump sparks second wave of cuts to 2016 budgets
(Reuters) - Less than two months into the year, the top U.S. shale oil companies have already cut their budget for 2016 a second time as the relentless drop in oil prices continues to erode their ca...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.

{localized={en_US=Terry}, preferredLocale={country=US, language=en}} {localized={en_US=Scott}, preferredLocale={country=US, language=en}}

Terry Scott
CEO of StockMarketWatch

View Profile


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Be a Better
Trader, Today
arrow
PreMarket PRO Our New Streaming Realtime Pre-Market Product -- Click Here to Learn More