G 20 &The Yen

The G20 meeting took place in Moscow Russia. In case you don’t know what G 20 is , it is a club of the top 20 economies in the world. The big topic was about currency war and currency manipulation. The focus in terms of these topics was on Japan. In order to increase exports Japan doesn’t need an increase value of the Yen. For the past few weeks it has been loosing value against the dollar. At the end of the meeting Japan wasnt singled out. I don’t really know much about currency trading but if I was to invest in it my basket of currency would definitely include the Yen. Japan still has a competitive economy with many multinational companies. According to Bloomberg News”  The yen weakened after the Group of 20 nations stepped back from censuring Japan over its currency policy” plus “The yen fell against all 16 of its major peers, extending losses that made it the worst-performing major currency in the past three months. South Korea’s won climbed 0.3 percent to 8.679 yen, the highest since October 2008.Japanese officials in Moscow denied driving down their currency, arguing that its weakness was a byproduct of their effort to revive the world’s third-largest economy, which would benefit trading partners. The yen may weaken toward 100 per dollar in the next few months, UBS AG said in a report.”

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