Dhaka, Bangladesh (BBN)- The Japanese Yen (JPY) traded near a one-week high against the Euro (EUR) as Asian stocks fell amid concerns the global economic recovery will slow, spurring demand for Japan’s currency as a refuge. JPY rose around 131.52 against the EUR, its strongest level since January 06.
U.S. stocks declined on Tuesday following investor concerns about a potential government levy on banks and financial services firms to recoup losses from the Troubled Asset Relief Program.
The Dow Jones Industrial Average lost 36.73 points, ending at 10,627.26, while the NASDAQ Composite fell by 30.1 points, to close at 2,282.31.
BBN/SS/SI/AD-13January10-10:45 am (BST)