Table of Contents
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Euro Falls against U.S. Dollar and Japanese Yen

By DailyForex.com

The Japanese Yen's rally remained intact, today despite the G7 concerns about disproportionate volatility in the Japanese Yen, while the U.S. Dollar hit a 2-year high against the Euro as investors moved out of risky assets.

The Japanese Yen was perched below a 13-year high against the U.S. Dollar but surged to its highest since the middle of 2002 against the Euro.

Finance authorities of the G7 issued a statement saying that it was worried about recent excessive fluctuations in the Japanese Yen and that they would continue to watch markets very closely, and cooperate if the need arises, raising the possibility of coordinated currency intervention.  Today, Shoichi Nakagawa, Japanese Finance Minister said that he was monitoring currencies with “great interest.”

On October 27, 2008, at 12:00 GMT, the U.S. Dollar fell by1.1% against the Japanese Yen from last week’s trade in the U.S. of 93.21 Yen, having jumped to 94.50 Yen following the G7 warning.  Last Friday, the U.S. Dollar fell to 90.90 Yen, a 13-year low.

The Euro also lost ground by 2.3% to 116.20 Yen, after falling to 113.64 Yen -- a 6½ year low.  The Euro fell by 2% against the U.S. Dollar to $1.2335.

Most Visited Forex Broker Reviews