March 23rd 2012, Mariko Ishikawa, Candice Zachariahs, Kristine Aquino, Bloomberg.com
Today the Yen was set to rise against 16 of its major peers despite the concern of decline in the Chinese economy (Ishikawa & Zachariahs, 2012).
The Yen traded at 82.54 against the Dollar and has advanced 1.1% this week and yesterday touched 82.33, the highest since March 13th (Ishikawa & Zachariahs, 2012).
In other currency news, the Aussie Dollar fell this week at 1.8% the largest since the five-day period in December. The reason for this is the strong trading partnership Australia has with China, whose manufacturing may contract for a fifth month (Aquino, 2012).
To read the full articles, go here:
http://www.bloomberg.com/news/2012-03-23/yen-set-for-weekly-gains-as-stocks-fall-on-china-concern.html
http://www.bloomberg.com/news/2012-03-22/yen-gains-versus-euro-dollar-as-euro-area-industry-declines.html
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