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Wednesday, 16 Mar 2011
Japan's Nuclear Crisis Sends Yen Near 16-Year High vs. Dollar
Demand for the Japanese yen continues to soar as Japan's nuclear crisis intensifies. The current concern is that Japanese companies and investors will repatriate funds in order to deal with the devastating effects of the earthquake and the tsunami
The USD/JPY pair continued with the free-fall today, and has reached as low as the 80.45 level, almost at a 16-year low. The yen also slid against the euro , and is currently trading near the 112.45 level.
Later on today at 14:30 GMT, the Energy Information Administration will release the U.S. Crude Oil Inventories figures. The release is likely to have a significant impact on the market, especially on commodity prices.
