USD/JPY: Yen Climbs From Noda’s Pursuance of Stimulus Measures

The Japanese yen lost by 8 pips versus the American dollar as the future of nuclear power in Japan has continued to be an issue, more so, in next month’s election. Even as the ruling Democratic Party of Japan has pledged to wean the country from atomic power by 2030, while the LDP calls for a decision on whether to restart all reactors within the next three years, the uncertainties about whether to prop-up the energy sector sees an unstable economy for the Japanese. The Yen is anticipated to immense in today’s Asian trades seeing that the expected approval of Prime Minister Yoshihiko Noda’s Cabinet of ¥880 Billion of emergency plan, which will boost the stagnant economy.

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