Japan’s Yen Weakens as Global Economy Recovers

The Japanese yen weakened today as the rallying stocks and the interest rates hike in Australia added to the signs of the global economic recovery, decreasing the demand for the safer currencies.
The MSCI Asia Pacific Index of regional shares rose 0.3 percent, while the MSCI World Index advanced for the fourth day. The growth of the US and China’s manufacturing and the interest hike in Australia also supported the outlook for the recovery of the world economy.
USD/JPY advanced from 80.49 to 80.78 today as of 10:20 GMT.

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