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.