The news rolling into market Federal Reserves will inject more money into the Economy, which put pressure form the investors to the US Dollar, helped Yen strengthen to a 15-year High, Aussie Dollar reached to a record level and rally seen into Precious Metals.
Vice Finance Minister of Japan Fumihiko Igarashi said Japan won’t weaken the yen in a “race” to devalue, three weeks after the nation intervened for the first time since 2004, and a day before industrialized nations meet in Washington to discuss exchange rates. Speculation that the Fed will add support for the economy increased before government reports today and tomorrow that may show worsening unemployment.
"Considering the Fed have stated that they would undertake QE II unless there was an improvement in both job creation and a rise in inflation, we can take it as pretty much a done deal,” Gary Jenkins, head of fixed income at Evolution Securities Ltd. in London, wrote in a report today. “The likelihood of those two data points showing a sustainable recovery within a month is not really credible.”
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