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Japanese Yen Slides Further On Abe's Call For Aggressive Monetary Easing

11/21/2012 6:59 AM ET

The Japanese yen declined further against other major currencies on Wednesday's European deals following the Japan's LDF leader Shinzo Abe's pledge for large scale monetary easing when his party comes to power after December elections.

He made the remarks during the press conference at Tokyo while announcing campaign promises for upcoming general elections next month.

Abe targeted a 3 percent nominal economic growth, inflation goal of 2 percent and bold monetary policy to get rid of deflation.

The yen hit new multi-month lows of 82.36 against the greenback, 105.50 against the euro, 87.64 against the franc, 131.28 against the pound, 85.42 against the aussie, 67.10 against the kiwi and 82.66 against the loonie.

by RTT Staff Writer

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