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The UAE National Day holiday prevented publication of the normal HSBC currency weekly column this week. The following guidance was issued on Monday:
The Japanese yen fell to a 32-month low against the dollar and all-time low against the euro after Japanese officials signalled on the sides of a G7 meeting their comfort with its slide.
The yen was not a topic at the weekend meeting of finance ministers and the central bankers, giving market players more reason to think that Group of Seven officials have no objections to its weakness.
Meanwhile, Japanese Finance Minister Sadakazu Tanigaki said after the G7 meeting that the yen's fall through 121 to the dollar reflected economic fundamentals. Furthermore, BoJ Governor Toshihiko Fukui said the weaker yen was not a problem and was consistent with the central bank's policy of fostering growth.
Yen weakness not on agenda
The yen was not a topic at the weekend meeting of finance ministers and the central bankers, giving market players more reason to think that Group of Seven officials have no objections to its weakness.
United Arab Emirates: Monday, December 05 - 2005 at 09:15
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HSBCMonday, December 05 - 2005 at 09:15 UAE local time (GMT+4)
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This Article was updated on Friday, June 15 - 2007
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