Japanese Yen Weakens Whilst Pound Climbs

By FOREXYARD,  April 18, 2012, 10:51:57 AM EDT

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The Japanese Yen fell against most of its Major Currency counterparts for the second-day in a row.
The Yen weakened after the Bank of Japan mentioned that more stimulus may be required despite the fact that it seems global economic growth is gaining momentum.

The Japanese currency took a hit after Bank of Japan Deputy Governor Kiyohiko Nishimura stated that the central bank is prepared to implement additional easing.

According to theBloomberg Correlation Weighted Indexes, among the Ten-developed nation currencies, the Yen has performed the worst  for the past three months.

Elsewhere the British Pound appreciated shortly after the Bank of England minutes showing policy maker Adam Posens' push for another stimulus had come to an end.The Pound appreciated 0.8 percent against the 17-nation euro whilst also seeing gains of 0.4 percent versus the U.S dollar.

The Sterling climbed for a second consecutive day against the Euro as a result of Posen joining the majority of the Monetary Policy Committee in indicating no further alterations to the 325 billion pound asset-purchase target.




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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