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Japan Nikkei Hits 5 Year Best Boosted by Weak Yen

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A 3% stock rally Friday has pushed Japan’s Nikkei to its highest close in five years and the best week since the end of 2009.
The rise came a day after the dollar broke the ¥100 mark for the first time in four years. The Japanese currency continued to fall in value Friday, hitting ¥101.7 after the close of Asian markets

The weaker yen is providing a boost to the earnings of Japanese exporters such as Toyota Motor, which reported its net income more than tripled in its most recent fiscal year and projected a 42% rise in earnings in the year ahead. Toyota (TM) shares rose 5% in Tokyo trading Friday.

via CNN

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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