Yen Declines On U.S. Home Sales Improvement

The Japanese currency declined before the end of this week’s session on improved U.S. housing data, suggesting that the wealthiest country in the world is finally reacting economically from the worst recession in decades.
Two events moved markets towards the close of this week’s trading session, as Federal Reserve Chairman Ben Bernanke stated that the world is recovering economically adding to a positive U.S. home sales report that brought risk appetite to a high level among currency specialists that opted for high-yielding assets, damping demand for the Japanese currency.
EUR/JPY climbed to 135.04 from a previous rate of 133.97 in the intraday comparison.

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