ON: Forex trading platforms see yen strengthen against euro
The yen today (June 22nd) strengthened against the euro following concerns about the ability of banks in Europe to raise money, it has been reported.
Value of the single currency on Forex trading platforms fell after Christian Noyer, European Central Bank governing council member, said banks within the eurozone faced funding issues, Bloomberg stated.
Yesterday European equities fell for the first time in ten days, hindering the performance of sterling.
The international news agency reported Mr Noyer as saying: "The situation reflects a general state of uncertainty which, left unchecked, could have significant consequences on financial stability."
At 9.50am local time in New York, the Japanese yen had risen by 0.6 per cent to stand at 111.54 per euro, while Forex trading also saw it increase against the US dollar by 0.4 per cent to stand at 90.76.
By 15:15 BST, the yen had slightly dropped to stand at 90.72 per US dollar on Forex trading platforms.
