Yen Declines on EU-Greece Rescue Plan

The yen was the most affected currency by a new wave of optimism started by EU officials statements suggesting that the bloc will help Greece financially to solve its public debt issues, losing specially versus higher-yielding currencies and the euro.

The Japanese currency started this Wednesday continuing its losing trend initiated yesterday by renewed optimism that Greece fiscal crisis will end sooner than expected as the European Union signaled its intentions to inject money in the country’s accounts, as long as it follows measures necessary to tighten its massive public deficit.

AUD/JPY traded at 78.73 as of 02:23 AM from a previous intraday rate of 77.30.

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