The yen sharply depreciated yesterday and the BOJ intervened in the forex exchange rate market and caused this movement; the reasons given was to protect Japanese exporters and the concerns Japan has on the ramifications of the European debt crisis. This movement may have also been among the reasons for the sharp depreciation of other currencies such as AUD and EURO against the USD: the Euro/USD exchanged rate slipped; the US dollar also appreciated against the Canadian dollar the AUD and CHF. Major commodities prices declined (mainly the precious metals’ prices). Here is a summary of the price movements of major exchange rates for October 31st:
The USD to YEN exchange rate sharply rose by 3.09% to reach 78.170; during October, the USD to YEN inclined by 1.4%.
The Euros to USD exchange rate sharply slipped by 2.04% to reach 1.3858; during October, the EUROS/USD inclined by 3.5%; the Australian Dollar to US Dollar also fell by 1.59% yesterday and reached 1.053.
The US dollar to Canadian exchange rate inclined by 0.92% on Monday to 1.0008. During October the USD/CAD exchange rate declined by 4.7%. The US Dollar appreciated against the British Pound by 0.26% yesterday and reached 1.609.
A Summary of Yesterday’s Exchange Rate Forex Changes:
The table below includes: closing prices, daily percent change, and change in prices and indexes:
For further reading: