The Japanese yen declined today from its recent high values against the U.S. dollar, pound and euro as the global stock markets gained and the
The yen was joined by another
Both yen and franc are used to borrow low cost money and are converted into the other currencies in order to buy U.S. and European stocks for dollars, pounds and euros.
The increased confidence restored some of the carry trade orders, making yen and franc depreciate also against the Australian and New Zealand dollars.
The USD/JPY rate increased 1.2% from 99.51 on todays opening and is trading at 100.71 as of 18:14 GMT. USD/CHF rose from 1.0121 to 1.0214 today thats almost 0.9% of a daily growth.
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