The Japanese yen dropped today against the euro as Germany’s leader meets the head of the International Monetary Fund to discuss the ongoing issues of the European Union and possible ways to resolve the credit problems.
Angela Merkel, German Chancellor, meets Christine Lagarde, Managing Director of the IMF, in Berlin today. Merkel explained that Greece will be the main theme of the discussion. Analysts said that short-covering made the euro strong against other currencies, particularly safer ones.
EUR/JPY was up from 98.09 to 98.34, while USD/JPY traded near its opening level of 76.82 as of 13:28 GMT today.
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