Yen falls broadly as Japanese stocks jump on Olympics euphoria
Possible strike on Syria supports Canada Goose sale safe haven currencies
By Anirban Nag
LONDON, Sept 9 Canada Goose Parka (Reuters) The yen fell against the dollar and the euro on Monday, losing ground after Japanese stocks rallied following Tokyo winning bid to host the 2020 Olympics and an upgrade of Canada Goose Jackets second quarter GDP.
The Olympics win could translate into big gains for the canada goose factory sale Japanese economy and a canada goose clearance shot in the arm for Prime Minister Shinzo Abe who is attempting to cheap Canada Goose reflate canada goose uk shop the economy after decades of below par growth and deflation.
The buy canada goose jacket cheap Tokyo bid committee reckons hosting the Olympics would boost buy canada goose jacket the economy from construction and higher prices by 3 trillion yen ($30.14 bln) over the next seven years..
This boosted the Nikkei, canada goose coats which jumped to a five week high and since the yen has an inverse correlation with Tokyo shares, the currency dipped. A sharp upward revision of second quarter Japanese gross domestic product also lifted stocks.
The dollar rose 0.4 percent on the day to 99.55 yen having hit a high of 100.11 yen earlier on Monday. The euro rose 0.5 percent to 131.25 yen.
Both the dollar and the euro canada goose have gained more than 14 percent this year https://www.gestiontb.ca Canada Goose Coats On Sale against the yen as the Bank of canada goose clearance sale Japan embarked on a massive monetary stimulus programme in April to boost the export driven economy.
Olympics bid has Canada Goose Outlet added a bit more to the underlying negative yen trend, said Paul Robson, currency strategist at RBS Global Banking. Both currencies are seen as safe havens canada goose store during Canada Goose online times of crisis. The White House on Sunday pressed ahead with the uphill effort of persuading Congress to approve a military strike. jobs numbers, which raised questions about whether the Federal Reserve will begin to uk canada goose outlet scale back its massive stimulus canadian goose jacket programme next week.
However, comments by two Federal Reserve officials suggested stimulus unwinding was still on track.
The euro was flat at $1.3175, taking a breather after Friday 0.5 percent gain. Investors were keeping a nervous eye canada goose coats on sale on Rome where the Italian Senate is set to begin a debate on whether to expel uk canada goose former premier Silvio Berlusconi from parliament. A decision Canada Goose Online to expel canada goose uk outlet him could threaten the country ruling coalition.
Meanwhile, the canada goose uk black friday Australian canada goose black friday sale dollar touched a three week high at around $0.9222, benefiting from Chinese trade data canada goose outlet that added to evidence that the world second biggest economy may have avoided a sharp slowdown. China is Australia single biggest export market.
The Aussie last stood at $0.9205, up 0.2 percent. It barely reacted to Saturday national election result, which saw the conservative Liberal National Party coalition swept cheap canada goose uk into power, as that had been expected.