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Thursday, May 10, 2012

Euro Zone Turmoil Continues, Yen Remains Up Beat


The Euro remained stuck at its 3 and a half month low versus the US Dollar on Thursday. At the moment, political uncertainty in Greece threatens its rescue deal and raises speculation that the country will soon be leaving the Euro Zone.
With most analysts expecting the situation in Greece to weigh heavily on the markets, the big winner seems to be the Japanese Yen.
The Yen is receiving wide support having recovered most of the losses that followed the Bank of Japan's updated monetary easing policy released earlier this year.

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