Euro-Yen Reaches Lowest Level in 10 Years by the rise of European Crisis Concerns
fxbom.com
01:40 PM
In morning trading in Asia is the euro exchange rate against the yen has dropped sharply (29/12). The euro fell to its lowest in 10 years against the yen amid growing worries about the strength of Europe’s debt crisis. It is estimated that the ECB will continue to do an injection of funds into the European financial system in order to tune the credit squeeze that occurred in the euro area.
The ECB yesterday said that its balance sheet has increased to reach a record high after last week by jor-rod to channel loans to banks in Europe. Market participants focused on the Italian bond sales will be done today. Italy planned to sell 8.5 billion euros (11 billion dollars) government bonds that will mature between the years 2014 to 2022 to come.
The euro exchange rate in today’s trading was observed in the position of 100.47 yen. Pair the euro-yen exchange rate had reached its lowest level since June 2001 at 100.35 yen. In late trading, the euro early this morning in the position of 100.87 yen.
Fxbom.com analysts assess that the movement of the euro-yen is bearish trend was in a solid. Possible partners for the continued decline of this rate is still open big enough. However to this day there is a possibility of movement will tend to be included in the consolidation and slightly rebounded.
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