Yen declines to seven year low versus Greenback

Source: WBP Online
© Scanpix/RS
The Japanese currency continued to slide relative to the US Dollar against the background of indecision regarding the elections that Shinzo Abe might use to gather wider support in the parliament. USD/JPY rose more than a half of a percent today, stopping only near 116. According to Kazuo Shirai from Union Bank NA, given the current sentiment in the market, the pair is heading towards the level of 120.
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