Forex News: The Euro on a Free Fall

A free fall for a fourth day consecutive day was presented by the euro [EUR = X] against the yen [JPY = X] after the stagnation of growth in the Eurozone brought by concern for the consolidation of Greece boosted the demand of the Japanese currency. The single European currency traded near the lowest levels in a period of about two weeks against the dollar before the meeting of the European Central Bank which is expected to hold interest rates at record lows to revive growth.

The Australian dollar traded near the highest levels of a the past 11 weeks after the government employment report showed 19,600 recruited in March, fueling speculation that the central bank will increase interest rate increases. The euro fell to 124.37 yen at 10:50 a.m. in Tokyo from 124.57 yen yesterday in New York. The euro traded at 1.3317 dollars from 1.3344 and earlier reached 1.3313 to the USD, its lowest since March 26.

The dollar traded at 93.39 yen from 93.36 yen. The U.S. currency strengthened to 1.0766 Swiss francs from 1.0739 francs yesterday, having earlier touched 1.0770, it’s highest since March 10. The Australian dollar traded at 92.70 U.S. cents from 92.68 U.S. cents, after rising yesterday to 92.98 cents, its highest since January 15. The yen strengthened against 10 of the 16 most traded currencies fell as Asian stocks opened, putting an end to rising five days. The Nikkei index [. N225] 225 in Tokyo fell 0.8% and the MSCI Asia Pacific Index of shares in the Asian region fell 0.3%.