May 04 2013

Yen is getting weak against its major peers and the next forecast that shows Japan’s economy is shrinking in the third quarter, behind the U.S and China, the third largest economy of world is lagging.

After the report unveiled the quick growth in China’s industrial production and also in retail sales, the currency of Japan has snapped the two-day gain against the Euro. On the other hand Australian dollars experienced a rise as stocks of Asia pared losses. Demand of 17-nation Euro got limited after one of the officials of European Union stated a decision of making the funds unlocked for Greece may not be made until the November. 

Rate Range Projection by Bank

Next week       :    79.20 - 80.30
Next 3 months :    75.00 - 85.00

After the election of presidential seat, American Dollar was sold out back due to some predictions of better quantitative easing monetary policy.