JPY Falls as Nuclear Radiation Concerns Grow

March 28, 2011 Share Print 0

News today that deadly levels of radiation were detected outside reactor buildings at JapanÃ¢â‚¬â„¢s Fukushima Dai-Ichi nuclear power facility caused the yen to fall against all its major counterparts.

The yen weakened 0.4 percent to 81.68 per dollar at 3:05 p.m. in New York, from 81.34 March. The Japanese currency fell 0.5 percent to 115.14 per euro. The euro was little changed at $1.4096 after falling as much as 0.5 percent.

Source: Bloomberg

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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.