Three-year High for the Euro Against the Yen
The Bank of Japan’s easing polices prompted the euro to rise against the Japanese currency as speculations that Japanese investors would transfer their activities abroad were running wild. Interestingly, Japan’s monetary easing policies have taken the onus away from the eurozone’s worsening uncertainties as the single currency strengthened across the board on Wednesday. Astonishingly, the euro was up 0.2 per cent against the dollar during trading hours on Wednesday as Portugal was on the brink following its austerity policies. Moreover, Italy continues to tread on without a government as the deeply divided southern European country is struggling to form a functional government. Things look bleak for the Eurozone as Italy, France, Portugal, Slovenia, and Cyprus are all struggling to keep their economies afloat.