US dollar and Yen strengthen against Euro

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Source: Bloomberg
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Japanese yen and US dollar appreciated against most of their main peers after Standard & Poor's warned it may downgrade France, Germany and 13 other euro union members. Japanese yen rose for third consecutive day and gained 0.3% against euro reaching ВҐ103.99 while greenback surge 0.2% to $1.3378. EUR/JPY currently is trading at ВҐ104.00 while EUR/USD is trading at $1.3369.

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Tue, 06 Dec 2011 12:00:33 GMT

Japan's Nikkei 225 declines on investor fears about Europe's downgrading

Japan's Nikkei Stock Average lost 1.39% or 120.82 points on Tuesday and closed at 8,575.16 amid worries created by Standard & Poor's that European countries may face downgrading. Most Japanese financials weighted down on the index as Nomura Holdings Inc. and Mizuho Financial Group Inc. both traded down 1.9%. Metal-sector companies also contributed to Nikkei 225 depreciation as Sumitomo Metal Mining declined 1.8% while JFE Holdings

Tue, 06 Dec 2011 12:02:31 GMT

Merkel and Sarkozy respond to S&P move

French President Sarkozy and German Chancellor Merkel released a joint statement yesterday saying they respect and take into account S&P decision. Nevertheless, both leaders insisted that tighter fiscal alliance and stricter control of national budgets and economic policies will promote financial stability growth across the region. 

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