The Yen in sharp decline following comments from the Deputy Finance Minister of Japan, Sugimoto

[RTFX-Trading]

The Yen in sharp decline following comments from the Deputy Finance Minister of Japan, Sugimoto.

The Yen fell to 98.50 against the US dollar, 72.30 against the Australian dollar, 145.90 against the Pound, 128.88 against the Euro and 85.14 against the Swiss Franc following comments made by the Deputy Finance Minister of Japan, Sugimoto. Sugimoto stated that he is following closely the movements in the Foreign exchange market and that he wouldn’t want the foreign exchange market to have a negative impact on the economy. These declarations are being regarded as a verbal intervention to curb the rising yen, which began to penalize the Japanese economy.

Emman Xuereb
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