The dollar hit a five year high against the yen on track and set for the biggest annual increase in comparison with the Japanese currency in 34 years , after rising nearly 21 % in 2013. The split in the monetary policy of the U.S. and Japan are the main cause for the spectacular performances of the USD against JPY in the year, and can lead to more gains for the greenback in 2014 . |
Many analysts forecast that Japan's currency will continue to depreciate early next year . However, the VAT hike in Japan in April could make the country's economy and sagging stock price and cause price increases for the yen . However, this currency will decline and the dollar back up to 110 yen at the end of 2014.
GOLD PRICE DOWN TOWARDS THE STRONGEST YEAR IN 3 DECADES
Closed session yesterday , spot gold prices fell 16 cents or 1.4 % decrease , to $ 1.197 / ounce . Trading volume is low due to investors are in the holiday season . Today will be the closing session of the 2013 international gold market . Gold prices are on track to complete five fastest drop since 1981 .
Since the U.S. Federal Reserve ( Fed ) refers to the ability to scale down stimulus because the economy has enough resources to sustainable recovery , many investors have been selling gold to turn to the other assets .
From the beginning of this year , gold prices have dropped approximately 30 % . Many predicted that in the new year 2014 , gold prices continued to be under pressure and can be reached almost 1.050 USD / ounce .
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