Yen appreciation and U.S. $ biggest euro up

by: M. Yunan Hilmi

NEW YORK (Bloomberg): Yen and U.S. dollars of annual record against euro for the first time when recession occurs simultaneously in the U.S., Europe and Japan since World War II. Learn more... World War II: The Definitive Visual History

Throughout 2008 the U.S. dollar's depreciation to more than two decades after speculation emerged determination 0% interest rates by the Federal Reserve will reduce the demand greenback. On the other hand, recorded the largest euor pound on the assumption of recession in the UK will become increasingly worsened.

"This year is a year of uncertainty at the request of the U.S. dollar and the yen turned menguat," said Matthew Kassel, director of ING Financial Markets LLC New York.

U.S. dollar down 19% to 90.86 yen from 111.75 late yesterday in 2007, the biggest decline since 1987. U.S. currency rose against the euro as much as 4.5% to U.S. $ 1.3966 from U.S. $ 1.4057, which is the first increase in three years. U.S. dollar had touched U.S. $ 1.6038 on July 15, terlemah for this level. Against the yen, the currency weakened Europe 22% to 126.82 yen from 163.04.

South African currency rand is the currency with the worst performance against the U.S. dollar throughout the year, which weakened 27% to 9.4375 due anjloknya commodity prices.

Menguat yen against all major currencies during 2008, with 52% of the Australian dollar up to be 64.15 and 61% of the top New Zealand. Strengthening yen on the sale of U.S. dollars to reduce Japanese exporters, including Toyota Motor Corp., Honda Motor Co. and Sony Corp.. The Ministry of Finance Japan recorded the largest export down 27% in November. (Yn)

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