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Wednesday, February 22, 2012

Yen extends drop, Euro up

The Japanese Yen went on to hit a six month low against the US Dollar on Wednesday as Yen selling continued.
This is a direct result of the Bank Of Japan's monetary easing actions last week. Analysts also believe that the Yen has come under additional pressure after Japan's current account surplus fell to a 15 year low last year.
The Euro rose against the Yen but struggled to make headway, as initial optimism over the Greek bailout deal quickly gives way to concerns about economic growth and implementation risks.

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