Japan’s Currency Falls, Metals and Oils Advance

Japan's currency has fallen down by 0.4% to record lowest value in the eight months at 82.87 per dollar. Australian dollar rose to highest in the last two months while the currency of South Korea reached a 15 month high on the day.

Australian currency hit $1.0548 to record 0.2% increase while South Korea's currency also reported a 0.2% hike to 1,074.93 per dollar. The Stoxx Europe 600 Index reached its highest since May 31, 2011 by a rise of 0.2% while Standard & Poor's 500 Index rose by 0.1%. The results were out at 10:06 am in London.

The crude oil rose before the OPEC meeting and a hike was also observed in the metals in wake of rise in the machinery orders made by Japan. Copper for delivery rose for the third day, thereby, rising by 0.4% to reach $8,133.75 a metric ton and Aluminum rose by 0.8% to hit $2,132 a ton. Zinc reported 0.3% rise to reach $2,087 a ton on the London Metal Exchange.

Gold ready for delivery rose by 0.2% to reach $1,714 an ounce while other metals including silver, platinum and palladium also advanced. Brent crude climbed up by 0.5% to $108.58 a barrel on the ICE Futures Exchange in London.