The Euro fell to a nine-month low against the yen in Trading Accounts

George Papandreou (Greece’s Prime Minister) said that “Greece didn’t need a loan from the EU and we never asked for it”. The announcement was made yesterday at the World Economic Forum’s annual meeting in Davos- Switzerland. These are no good news for the Greece´s external investment.

The euro fell to a nine-month low against the yen in Trading Accounts after speculation budget crises in Greece and Portugal will worsen; it created a reduction in the for riskier financial assets.

The 16-nation currency was near the weakest level in more than six months against the US dollar because apparently an economic report will show Europe’s unemployment rate climbed to the highest in more than 11 years.

Bank of Japan policy makers announced that a volatile yen may hurt their economy; the yen was headed for a third week of gains against the Australian and New Zealand dollars after global equities dropped, it increased demand for Japan’s currency as a “safer refuge”.

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