The Japanese yen has weakened for the fourth time in a row after the G7 meeting held over the weekend .The G7 gave the go ahead to Japanese monetary policies and had no censure on Japan’s money printing policies.
An agreement of a collection action against tax evasion and avoidance was also raised in the G7 meeting by Germany, Britain and other countries involved.
Other topics and developments that were addressed in the meeting were the probability of the eurozone crises was no longer a risk for the economy according to the German Finance minister “Woldgang Scheaeuble “.
The President for European Central Bank also addressed the meeting saying the G7 countries did not reach out to the central banks to boost the economy.
As the yen continuous to weaken the shares in Japan increases to the highest levels in more than five years .
Other market industries in Asia are forced to trade at a lower rate after economic reports from china on production and retail sales came in line with estimates.
According to the bank governors and finance representatives that were present at the G7 meeting; after analyzing and testing the Japanese strategy, they concluded they will monitor its impact on currencies.
Among the top industries in Japan ,Nissan Motor increased by 5.1% after forecasting a 22% increase in profits for the current business year while Sharp increased by 10.67% after Nikkei newspaper planned to downsize its operations in Europe according to reports .
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