Asian Session – Yen tumbles, sterling extends losses
Posted on February 25, 2013 at 5:56 am GMTThe yen sank to a near three-year low against the dollar in early Monday trading after the Japanese government announced the candidates for the new Governor of the Bank of Japan. The likely nomination is current Asian Development Bank President Haruhiko Kuroda, who is seen as favouring bold monetary policy. The incumbent, Masaaki Shirakawa steps down on March 19. USDJPY opened in Asia with a gap higher at 94.50 yen compared to Friday’s close of 93.38. This is the highest [..]