Post-Tsunami, Yen Dollar firmer after another!

TOKYO - The Bank of Japan (BOJ) has pumped five trillion yen ($ 63 billion) into financial markets in the country in an effort to stabilize the market.The move comes after the yen rose to its highest level against the U.S. dollar since World War II.Jumped as high as 76.25 yen against the dollar on Wednesday (16 / 3). In Asia, the currency was down 79.42 on Thursday (17 / 3).BOJ now has injected a total of 33 trillion yen into the market after the earthquake and tsunami of last Friday.The central bank will not only ensure calm markets, but also maintain the value of its currency under control.

Stronger Yen disrupt Japan's economy depends on exports.Not only makes the goods become more expensive but also hurt the profits of some of its biggest companies when they repatriate foreign earnings back home.Meanwhile, finance ministers from the G7 countries have called an emergency meeting to discuss the volatility in world markets and the impact of the stronger yen on the global economy.Kelompk G7 is composed of seven richest countries in the world, including USA, Japan, Britain and China.Analysts expect the ministers would allow Japan to intervene in currency markets to stabilize the yen."It seems inevitable that the yen will become part of a broader discussion about the stabilization of global markets," said Alan Ruskin of Deutsche Bank."There will be impressive if they fail to at least make a veiled threat to intervene," he added.Yoshihiko Noda Japanese Finance Minister refused to comment on whether Japan will enter into the market or not but said that he would oversee its development."I will be watching closely the movement of the market today," he said.Minister blames speculation for rising yen."The movement of the market is nervous on speculation, while the thin trading," Noda said.Analysts blamed the stronger yen on the repatriation of assets and currency aisng in Japanese insurance company.

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