Yen Slides On Japanese Stimulus Bets

Mohammad Ali (@ChaudhryMAli88) Published July 21, 2016 | 01:31 PM

Yen slides on Japanese stimulus bets

TOKYO, (UrduPoint / Pakistan Point News - 21st july,2016) The Yen on Thursday slid to its lowest level in about six weeks on expectations of fresh stimulus from the Japanese government and central bank, ahead of a European Central Bank meeting later in the day.

Japan's Currency has lost most of the sharp gains it made in reaction to Britain's June 23 vote to exit the European Union, which sparked buying of safe assets. On Thursday, Japanese media said Tokyo was readying a package of at least 20 trillion yen -- twice as much as earlier reported -- to kickstart the world's number-three economy, fend off deflation and counter any negative effects of the Brexit.

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