The latest value of the Yen against the United States Dollar is strongest since 1995. This is in lieu of the slowing of the global economy and the demand for safe assets is increasing. The U.S. currency also gained compared to its counterpart countries. Despite this certain asset for the Japanese government, many economists pointed out that it reacted very slowly into taking advantage of the situation.
According to Amelia Bourdeau, who is a strategist specializing in currencies in UBS AG, Stamford, Connecticut, a lot of currencies, especially those in the Greater 10 countries, whose policy makers have turned dovish. The Yen, however, has climbed towards 106.37, which is 1.3 percent higher than yesterday’s value at 107.79, as recorded in New York.
The Yen increased 1.6 percent against the U.S. Dollar, to 83.79 yen per dollar, compared to the previous value of 85.16 yen per dollar. Today, the yen also reached 83.60, which is the strongest value of the yen since June of 1995. On the other hand, the dollar weakened against the Euro, from 1.2657 dollars per euro to 1.2692 dollars per Euro.
However, it reached 1.2588 dollars per euro, which is the strongest since July 13. Slumped forecast of Homes and foreclosures in the U.S. are just one among the many reasons for the yen’s strength.
The 2010 GPI, otherwise known as Global Peace Index, has honored New Zealand as the world’s most peaceful nation. This is the same index that has awarded Iraq as the most violent country last year. The criteria for judging a nation is the crime rate, respect for human rights and budget allocation for defense or defense spending.