Wednesday, June 02, 2010

Hatoyama resignation tanks Yen

I guess political turmoil in the worlds 2nd biggest economy is starting to weigh on the safe-haven status of their currency.

(CUR_USDYEN 92.1300, +1.1600, +1.2750%) bought ¥92.13, up from ¥91.02 late in North American trading Tuesday, while one euro bought ¥112.54, up from ¥111.40.

That was a 1.27% weakening in just one day. I wonder if more money will flow out of the Yen until Japan can get some kind of handle on their political situation?

No comments: