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11.01.2013 19:22

American focus: Yen continues to update the multi-year lows

The yen fell to 2.5-year low against the dollar after the statement of Prime Minister Shinzo Abe, the Bank of Japan should ask to increase employment. Japan's current account deficit in November was 222.4 billion yen ($ 2.5 billion), with projections of 3.5 billion yen, the first deficit in 10 months. Much greater than expected, the deficit of the current account balance in Japan has caused further weakening of the yen against the expectations of the new government's policies. The Japanese government on Friday approved a package of measures to stimulate the economy $ 10.3 trillion yen and promised to strengthen ties with the Bank of Japan as part of efforts to fight deflation and long-term support to the economy. Abe has said repeatedly that the victory over deflation is very important, and expressed the hope that the Bank of Japan has set a target level of inflation 2% from the current 1%. Note that the Japanese currency shows decline for the ninth consecutive week, fixing the most prolonged decline in more than 20 years.

During Friday's trading, USD / JPY rose to 89.46, its highest level since June 2010. Pair EUR / JPY peaked in May 2011 119.35. Pair AUD / JPY rose to 94.51, its highest level since August 2008.

The euro / dollar in Asian and European trading sessions kept after yesterday's sharp growth in speech Draghi, who allowed the euro / dollar gain 200 points. Currency was little support successful auction of government bonds, the Italian Government to the tune of £ 3, 5 billion with a yield of 1.85%. But in the New York session, the euro / dollar rose sharply, breaking through $ 1.3300 after the publication of the U.S. trade balance. In November, the trade balance registered a deficit of $ 48.7 billion against forecasts of $ 41.3 billion and $ 42.1 billion in October. Also today, the U.S. Commerce Department reported that December import prices reflected the decline of 0.1% m / m and 1.5% y / y

The Swiss franc fell to a four-month low against the euro after a government report showed that consumer prices fell in December, slightly more than expected by experts, at the same time fixing its longest slump in four decades.

The falling pound showed today amid evidence that UK industrial output for November showed the dynamics at the level of 0.3% in the month and 2.4% a year, against forecasts of +0.8% and -1.9 %. In addition, production in the manufacturing sector fell by 0.3% and 2.1%, against expectations of +0.5% and -1.3%. NIESR later published a report with the assessment of the British economy, according to which the country's GDP in the 4th quarter decreased by 0.3%, while the UK GDP for the full 2012 has not changed. Meanwhile, for the entire 2011 GDP grew by 0.9%.

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