The Japanese yen gained today on the forecast that the Federal Reserve would be required to print more money to support the faltering US economy.
The quantitative easing should decrease the appeal of the US dollar and boost the attractiveness of the yen as the safe haven. The strong currency is the last thing the Japan needs these days, but the direct intervention is likely will be opposed by the US.
USD/JPY slid from 84.18 to 83.87 today as of 9:24 GMT, following the decline to 83.73. EUR/JPY slumped from 108.40 to 107.01.
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