Wednesday 28 September 2011

USD/JPY Drops Amid Euro Zone Divisions

Greece and the European financial stability of the U.S. dollar boosted demand for safe haven in a potential expansion in the euro area in terms of recovery against the yen Wednesday as the lower divisions.

USD / JPY down 0.45 to 76.46% in early trading European day lower, hit by a double 76.48 later consolidated.

Double 77.06, September 14, high in the September 22 low at 76.10 and resistance is likely to find support.

Market sentiment in Greece to recover EUR109 in the middle of the growing concern of funding for the second installment of bloc countries in terms of a single currency weakened in recent months following reports a sharp increase in the division.

Voltage is a potential for development in the European financial stability has increased on a number of important votes. On Tuesday, German Finance Minister Wolfgang Schäuble, Chancellor Angela Merkel welcomed the idea of ​​extending the EFSF and firepower, "stupid", said he would.

Finland was a decision at the end of the day because of the German Parliament voted Thursday on the proposed improvements.

Meanwhile, the country's public finances half a year before the end of the new demand, the Japanese funds raised go back and buy the local exporters.

Elsewhere, the yen at 104.11, / JPY down 0.23% against the euro by euro rose to success.

Later Wednesday, a U.S. raporuFederal Reserve, Ben Bernanke, scheduled to speak at the same time order for durable goods, to be published.

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