NEW YORK:- The United State (US) Dollar keeps it rank on top in the world economy and leave behind the Japanese Yen on Friday after the G7 meeting was held on 10th May 2013 on Friday in London.
Now the price of Dollar in the economy of Japan rises and euro dropped back below $1.30. Now due to the rise of the dollar price in Japan economy one dollar reach on 102 yen.
About 10:00 o’clock on GMT time the euro falls from $1.2900 to $1.304 which was the cause of increasing the dollar price. and dollar now reached at 102 yen instead of 101.62 yen.
A meeting on the economy global center in London all top seven currency holding countries memeber declare this decision and rises the price of Dollar over the Japanese Yen and euro also rise in their economy.
The duration of the meeting was consist on 2 days and the main focus of the meeting is about the currency war in whole world. The European Union and International Monetary Fund was also attempt the meeting in London.
British Finance Minister Geroge Obsorne explain during his interview to local media that “We want to be a better nurture recovery for all economy in world”.
The Japanese Finance Minister Taro Aso told that:
[quote]The Bank of Japan has eliminated any reason to buy yen over the next two years and local investors are finally beginning to realize it,”
We are trying to put out our currency from the deflation instead of touching the high level in the Market of Yen,”[/quote]