Euro Hits Rock Bottom Against Yen

October 07 00:00 2011

New York, October 6 (RainbowNewsLine.com) – The Forex market is in a state of turmoil as Euro is hit by the ensuing Greek crisis which threatens to destabilize the economy of Europe as well of the entire world. The leading currencies of the world have been in a state of free fall as both the Dollar and the Euro fall.

Euro meanwhile continued its unprecedented fall against the Yen and may have hit rock bottom. It is now at an all-time low against the Japanese Yen. The fact that the Japanese Yen is not a very healthy currency in itself does little to soothe investor woes. Investors are worried that Greece may require a hefty bailout and most of it may be financed by monetizing i.e. printing money. The more euros there exist, the less valuable they are, hence the downfall.

Meanwhile the European nations are not showing a strong resolve to take action against the impeding Greek crisis. They leaders have been meeting occasionally, however there have been no hard decisions made. Greek populations protest against rising government taxation as well as the fears that all the taxation may not be enough are causing this disheartening performance by the Euro in the currency market.

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