News article

Euro weakens against yen for third consecutive day

Euro weakens against yen for third consecutive day
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The European single currency has fallen against the yen in fx trading on Tuesday (May 24th).

This represents the third day in a row that the euro has weakened, with the money dropping to 115 yen at 08:32 BST in London, according to Bloomberg.

Problems in the eurozone continue to cause issues for the currency and analysts have suggested that the yen could be seen as a safe-haven choice for many investors.

Bank of New Zealand currency strategist Mike Jones told the news provider: "Not only are the sovereign debt concerns weighing on the euro, there's the additional headache of weaker [industrial] data now which is adding to the selling pressure."

In an interview with Reuters, Sumitomo Trust and Banking market economist Ayako Sera suggested the euro could continue to fall until policymakers come up with a viable plan for dealing with the issues being experienced in debt-laden countries such as Greece.

Posted by Greg SeckerADNFCR-1681-ID-800554666-ADNFCR