| The Group of Seven intervention to drive down the yen has created conditions ideal for the Japanese yen to become the preferred funding currency, and this could boost growth-linked currencies like the Australian dollar.
In their first joint intervention since 2000, G-7 rich countries sold the yen JPY= on Friday after it spiked to record highs of 76.25 per dollar and threatened to deal a blow to the export-reliant Japanese economy that was just picking up from a lull when the earthquake and tsunami struck..............................................Full Article: Source
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