Yen rise in reduced to G7 support for Japan

6:48 PM Japan, reduced, support No Comments

NEW YORK yen against the dollar tumbled Friday after the Group of seven Nations postponed to weaken the Japanese currency. But the safe-haven dollar dropped intervention and a ceasefire in Libya against most other currencies Friday after the coordinated currency.

The dollar, Yen and Swiss franc tend to in times of geopolitical stress and other tensions, to strengthen the desire for secure investment sparks. Emerging market currencies and currencies in regions where interest rates are higher, as the euro, will receive often when investors at risk to take.

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In New York, the dollar rose late Thursday to 81.05 Yen by 79.05 Yen Friday. The yen strengthened a bit in New York after weaknesses to 81.99 per dollar in trading overnight. The euro rose from $1.4007, $1.4131.

Taken before the earthquake in Japan, bought a $83.02 yen. The dollar had weakened on Wednesday, the highest point of the yen since World War II to as little as 76.32 yen. Investors have the Japanese bets end their overseas and bring money home, partly to Japan's reconstruction fund would.

But the currency rise threatens to deepen the economic hit to Japan's economy. A stronger yen hurts profits the exporters of the country.

The G-7 deal, the yen, announced late Thursday, and weaknesses to help Japan's economy.

"Stabilization of the yen should work consider world economic growth, moderate" wrote Credit Suisse analysts in a research note Friday. The move seemed investors calm and they perceived bets on currencies as risky.

The prospect of a ceasefire in Libya, a major oil exporter, helped quiet markets. Libya declares a cease-fire with rebels Friday after the threat by intervention from abroad. The United Nations authorized a no-fly zone late on Thursday and said, "all necessary measures" including air strikes, forces loyal to Moammar nepotism prevent it striking against the insurgents would take Libyans.

The clash in Libya had helped drive up oil prices up to 27 percent in the last few weeks. On Friday, shares fell rose on Wall Street and oil prices. The Dow Jones industrial average was 1 percent, while crude oil around $101 per barrel traded.

Story: Q + A: why of Japan's Yen rises against the dollar?

The British Pound rose to $1.6162 from $1.6136, while the dollar on 98.41 Canadian cents of 98.71 Canadian cents fell. He was low also against most other currencies including the Brazilian real and Mexican Peso, who won South Korea, the Scandinavian currencies and the Australian dollar.

The US currency gained 0.9002 Swiss francs to 0.9041 Swiss francs. The Swiss franc is also a safe haven, and the dollar its latest record low for the currency on Wednesday at 0.8922 Swiss francs.

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