Yen Slides Post-Election, Pound and Dollar Lift
By: Kelley Holland | News Writer
A landslide election victory by Japan's Liberal Democratic Party increased the odds of aggressive stimulus action by the Bank of Japan and sent the yen tumbling. [CNBC]
The dollar rose sharply on Japan's election results on expectations of aggressive monetary stimulus from the Bank of Japan. [CNBC]
Hopes for more vigorous monetary stimulus in Japan lifted the Australian and New Zealand dollars. [CNBC]
Euro zone exports fell in October, adding to evidence that economic weakness in the 17-country bloc is continuing, and the euro slipped. [WSJ]
The British pound strengthened, riding its status as a relative safe haven. [economy-news.co.uk]
With interest rates in many developed countries near record lows, finance ministers in Latin American countries are determined to defend against hot money inflows. [CNBC]
The yuan strengthened as traders said the central bank appeared to be winding down efforts to curb the currency's strength. [CNBC]
