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In today's trading the Japanese currency weakened to the level of Y85 to the dollar, which was the first time since April 2011. This sharp decline was due to the news that Abe was confirmed as prime minister of Japan, and amid speculation that he will ask the central bank to increase the cash infusion into the economy.
Meanwhile, the yen fell against all major currencies, as the report of the Bank of Japan showed that a member of the Board of Directors proposed a public asset purchases.
Traders note that the currency collapse is also accelerated, after she overcame Level 85 yen per dollar, prompting with stop-loss orders.
In addition, the pressure on the currency was that the leader of the Liberal Democratic Party of Japan and its coalition partner - the head of the party "Komeito" Natsu Yamaguchi - yesterday agreed on a target for inflation of 2%. In addition, they decided to major in terms of stimulus package designed to support the growth of the Japanese economy and defeat deflation. Reviewing the legislation, according to the central bank of the country you are working, do not get up, but it can be discussed if the need arises.
Note that the yen has fallen this year by 13%, showing the biggest drop among the 10 major currencies. The second worst performance showed the dollar, which lost 2.8%.
EUR/USD: during the European session, the pair fell to $ 1.3185
GBP/USD: during the European session the pair fell $ 1.6123
USD/JPY: during the European session is around Y85.26-Y85.44
At 14:00 GMT the U.S. will index of housing prices in 20 major cities and nationwide composite price index S & P / CaseShiller for October, and 15:00 GMT Fed's manufacturing index for December of Richmond.
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