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Forex: USD/JPY falls sharply to threaten 89.00; Japan's Amari on the wires

By FXstreet.com,  January 14, 2013, 09:51:00 PM EDT

FXstreet.com (Barcelona) - The Yen has been hit by a furious round of selling pressure, falling over 45 pips from levels above 89.60 to print a low of 89.15. Japanese economics minister Amari is on the wires, saying "excessive weak Yen has negative effects on livelihoods..." comments that suggests they are starting to feel uncomfortable with the rapid depreciation of the currency. Moreover, he adds that "Yen has corrected to levels in line with fundamentals." The change in rhetoric has certainly been well noted by traders, creating a wild impulsive sell-off now targeting Jan 14 low at 89.07 ahead of 89. round number.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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