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Yen Set for Largest Weekly Loss in 17 Years on Stimulus Expectations

The yen weakened against the dollar and is moving towards its largest weekly decline since 1999, as investors anticipate the specific details of Japanese Prime Minister Shinzo Abe’s re-energized stimulus plans after his upper house election win.

The yen slid versus the majority of its 16 major counterparts, plummeting following Ben S. Bernanke, ex-chairman of the Fed Reserve was reported to have raised the concept of Japan offering perpetual bonds. However, Bank of Japan officials denied a report that they are considering launching the helicopter money policy in which the central bank will directly finance government spending.

The yen fell by 0.8% to 105.35 yen per dollar as of 5 p.m. in New York, pushing its decline since the end of last week to 4.6%. It weakened earlier to 105.94, the weakest it has been since June 23 after the Brexit vote. The yen weakened against the euro for the fourth consecutive day, depreciating by 1.1% to 117.14 yen.

The material has been provided by InstaForex Company – www.instaforex.com

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Yen Set for Largest Weekly Loss in 17 Years on Stimulus Expectations Reviewed by on . The yen weakened against the dollar and is moving towards its largest weekly decline since 1999, as investors anticipate the specific details of Japanese Prime The yen weakened against the dollar and is moving towards its largest weekly decline since 1999, as investors anticipate the specific details of Japanese Prime Rating:
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