Forex: Monday’s review

Yesterday during trading the yen hit its lowest level against the dollar since June 2010, which was due to the fact that the Japanese Prime Minister Shinzo Abe will choose a new head of the central bank, which will support the expansion of monetary easing, which will speed up devaluation of the national currency. Against this background, the currency of Japan, the first time since May 2011 reached the level of 120 yen against the yen. Economists say that, in view of the situation is increasingly likely that further easing from the Bank of Japan will continue. In addition, expectations of increasing inflation target help to increase demand for the yen.

The dollar fell against the euro, after U.S. President Barack Obama said at a news conference that the United States can not afford to debate on the debt limit.

New Zealand's dollar, nicknamed the kiwi, rose against all 16 most-traded counterparts after a report showed that the level of retail spending increased.

The Swiss franc fell as European leaders said that the worst days of the crisis of sovereign debt in the region may have ended. Note that investors use this currency as a safe haven in times of financial crisis.