Yen Dropped to 9 Month Low Against Dollar On The Outlook Of BOJ

The Japanese Yen dropped to its weakest level nine-month against the U.S dollar. There will be an election on upcoming week and Democratic Party of Japan seems to get majority votes. The dollar has gotten against the majority of sixteen most traded counterparts on the appeal of haven

after the speaker of Republican House John Boehner stated that the white house is not much serious about cutting, spending and “appears willing to slow-walk our economy right up to, and over, the fiscal cliff.”

Rate Range Projection by Bank

Next week
82.50 - 84.50
Next 3 month
80.00 - 90.00

As the general election will take place on upcoming Sunday, the Democratic Party of Japan will get the most of the votes. They have committed for the policy of monetary for sake of easing quantity of the supply of money to talk on bank of Japan just like Fed did in USA.