Japanese yen showed lower rates against dollar and major currencies amid the renewed concerns among investors before the meeting of the G-20, which may discuss current stimulus plans in Japan and its affect on industrial economies.
From another side, Currencies markets notices hesitate moves recently after Bernanke’s speech who confirms the importance of boosting recovery cycle in the U.S. with monitoring its economic data to spur markets.
Bernanke’s speech and the awaited G-20’s meeting boosted investors to avoid risks on trades before the end of the week, which boosted major currencies to incline against Japanese yen.
USD/JPY pair inclined for the second straight day to record high of 99.86, while the EUR/JPY pair recorded high of 130.91 after yesterday’s high of 131.35.
EUR/USD pair slid for the second consecutive day to record low of 1.3106, while the GBP/USD pair traded in narrow ranges today near 1.5200 after hitting its yesterday’s high at 1.5266, the highest in more than week.