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The yen fell for an eighth day against the dollar, the longest streak in seven years, as a report showing Japan’s exports fell the most since the 2011 earthquake fueled bets the central bank will add more stimulus.
Japanese exports slid 10.3 percent in September from a year earlier, leaving a trade deficit of 558.6 billion yen, the Finance Ministry said in Tokyo. The median forecast was for a 9.9 percent decline. The decline was the most since May 2011, two months after a magnitude-9 quake struck northeastern Japan, triggering a tsunami and a nuclear disaster.
Japan’s currency dropped at least 0.6 percent versus all 16 of its major counterparts after Economy Minister Seiji Maehara pressed the Bank of Japan yesterday for more action to boost the economy.
The euro rose after Spanish Prime Minister Mariano Rajoy extended an electoral majority in his home region of Galicia, vindicating the government’s austerity program. Furthermore, little support for common European currency was from the statements made at the weekend the Minister of Finance of Greece. He noted that the country has fulfilled 90% of what was to be done to get the tranche in the amount of E31.5 billion, and if it recognizes the Troika, much needed money Greece will receive.
EUR / USD: during the European session, the pair rose to a new high of $ 1.3076
GBP / USD: during the European session, the pair rose to a new high of $ 1.6052
USD / JPY: during the European session, the pair rose to a new high of Y79.88
At 17:30 GMT a speech FOMC member Sandra Pyanalto. At 23:00 GMT Australia is to publish an index of leading economic indicators from the Conference Board in August.
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