Friday, October 06, 2006

North Korea may do a nuclear test - Yen declines


Seems like this is a neverending war between North Korea and Japan. Now there are concerns among the Japanese that North Korea will be firing nuclear bomb tests over the Pacific Ocean over this weekend . This news has caused panic and so the Yen declined , a similar situation arose when on July 5th the yen dipped 0.8 percent against the dollar after North Korea did a Nuclear Bomb test where the missile went over Japan into the pacific Ocean. This time there are more fears because Tokyo is just 1,295 kilometers from where North Korea fires missiles . Earlier when on Oct. 3rd North Korea announced of it's plans , China and Japan asked the nation to abandon the plan and go back to six-nation talks with Russia and the US on getting rid of it's Uranium processing program. Hence, Yen has seen very rough waters in the recent past and now this decision by North Korea has deepend Japan's problems further.

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