June 2, 2010
USD JPY Soars; Risk Appetite, New Prime Minister Catalysts
The USD JPY soared on Wednesday, buoyed by greater demand for risky assets and on speculation that the next prime minister will favor a weaker currency.
The Japanese Yen began to weaken overnight following the resignation of Japanese Prime Minister Yukio Hatoyama. Traders are worried that the economy will weaken further
during the election process at a time when China’s economy is slowing and Europe continues to struggle. In addition, …
