Yen Keeps Falling | IFCM
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Yen Keeps Falling - 22.11.2012

By yesterday evening results lowering in US dollar and Japanese yen continued. Euro, on the contrary, rose on expectations that financial aid will be granted to Greece next week, although it was initially under pressure due to delay of the decision. German Chancellor, Angela Merkel said in Parliament yesterday that there is a chance that the aid tranche will be approved on Monday. Euro vs. UD dollar was trading above 1.28 this morning and even reached 2-weeks high at 1.2867 (see the chart). Trading against Japanese yen, the single currency keeps growing confidently. Today EURJPY rose to 106.25. It has not been that high since May. US dollar vs. yen also demonstrates growth. The pair reached 82.58, the highest level since April 4th.
EURUSD, daily chart
Australian dollar also made a little higher vs. US dollar, after Chinese manufacturing PMI data release. The preliminary PMI (HSBC Flash Manufacturing PMI) rose in November to its maximum in the last 13 months at 50.4. AUD/JPY rose to 85.77, the highest level since April 3 (see the chart). The encouraging statistics supported the growth in Asian stock markets, among the major indexes the leader is Tokyo Nikkei, gaining more than 1.5%. The growth may go on in European stock markets. American Stock Exchange is closed for the national Thanksgiving holiday.
AUDJPY, daily chart
Today it is worthy to pay attention to the manufacturing and service PMI in Eurozone - purchasing managers indexes, as well as retail sales in Canada.
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