The Japanese yen Witnessed a decline against the dollar and other major currencies, with renewed fears about a meeting of finance ministers and central bank governors of Group of Twenty, which could see a discussion on the current stimulus plans in Japan and the extent to which industrialized countries and the financial markets.
On the other hand the currency markets saw volatility and large trading volume after Mr. Bernanke's speech during which stressed the need for the recovery of the U.S. economy and economic data monitoring to ensure the strength of the economy before the withdrawal of monetary stimulus in the market.
Mr. Bernanke's speech and the approach of G-20 meeting helped investors to risk appetite before the end of the week to be the result of major currencies rise against the yen with the fluctuation in the performance of the U.S. dollar. The dollar rose against the yen for the second day in a row to score the highest level at 99.86. As the euro was also higher against the yen to record the highest level at 130.91 after hitting Yesterday the highest level in a month at 131.35.
The euro fell against the dollar for the second day in a row to score today's low level at 1.3106. The pound traded in a limited way against the dollar during today's session around the 1.5200 level after recording the highest level in more than a week during yesterday's session at 1.5266.