Japanese Yen Soars as Commodity Currencies Decline

japanese yenThe Japanese currency went up as crude oil prices hit continued to decrease and guarded comments from US Fed officials caused a retraction in the US dollar’s rally.

Commodity currencies continued to lose as the Aussie dollar reached a four-year slump of $0.8223 while the Canadian more hit a trough of C$1.1501 against the US dollar.

The Us currency fell 0.8 percent to 119.78 yen while the latter rose against the single currency which lost 0.5 percent to approximately 147.93 yen.

The dollar is expected to move against the yen in the future because of the likelihood for more position amid the recent rally, according to economic analysts in Japan and other parts of the world.

The volume of volatility in the dollar against the yen has become to a certain extent bleak, based on observations made by market investors.

The euro increased 0.4 percent to $1.23620 and moved further away from a low of 28 months which is $1.2247 as the dollar faltered across the board.

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