It has been a month since the major earthquake that shook the Japan, but a recent, smaller earthquake is at the origin of the Yen strengthen. The currency was at 120.81 for one Euro, or 1.1% of 122.12 in New York late yesterday trading day. It is the largest gain of the Yen since March 16 daily. USD JPY trading, the Yen rose 83.88 each dollar, up from 84.60. The dollar also climbed yesterday of $1.4436 $ 1.44 for one Euro.
In light of recent disasters to the Japan Monetary Fund International has reduced its forecast for Japanese growth of 1.6 to 1.4. This behavior is typical of the Japanese currency during times of disaster. Forecasts by the IMF for 2012 are increased from 1.8% to 2.1%.
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