Asian currency in Turmoil

Sunday, 20 March 2011 02:17

After the biggest earthquake disaster in the country's history, the G7 unit assembled in an attempt to aid Japan on its high currency.  

It was confirmed that the U.S and the Banks of England, France and Germany sold yen against their respective currencies, successfully managing to drop the yen by an estimate of 3.5% It's currenly Y81 to a Dollar.

Massive amounts of yen are being sold in an attempt to soften the currency before it makes an impact of the export-led recovery.