The Japanese yen has recorded the largest increase in the past two weeks today. After weak numbers from the stock exchanges in Europe and Asia, and a continuing decline in oil prices, investors see in the yen a safe harbor.
Confidence in Japan's economy increases slightly
After the oil price today fell to its lowest level in more than 5 years, and the indices of the Asian and European stock markets declined around 1%, investors shows increased confidence in the Japanese currency. This is among other things based on further measures by Japanese government to stimulate the national economy. Last weekend was another recovery plan was published, adopted in the amount of 29 billion dollars, which should encourage smaller companies and households with low-income with in the first place. Through this program, the Japanese economy is expected to grow by an additional 0.7%. The US dollar is losing against the yen currently 0,94 percent at $119.18.
Elections in Greece unsettle investors
Those coming after the failed presidential election in Greece new parliamentary elections, unsettling investors in the European equity markets. The possibility that the SYRIZA party emerges as the strongest force in the elections could mean significant cuts in the reform efforts of Greece, and again pull heavy loads for the euro zone after, what animated the investor to increased caution on the stock markets. The Euro Stoxx 50 is currently showing a decline of 1.54% at 3,136.01 points, and the German benchmark index DAX 20 lost currently 1.26% at 9802.00 points.
