Yen rallies, hits 9-month high vs euro

By IBTimes Staff Reporter | January 26 2010 4:53 AM

LONDON, Jan 26 (Reuters) - The yen hit a nine-month high against the euro on Tuesday, rallying after a Japanese Finance Ministry official pledged fiscal discipline after ratings agency S&P downgraded its outlook on the country's sovereign rating.

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Japan's deputy finance minister Yoshihiko Noda said on Tuesday the government will stick to fiscal discipline with a sense of crisis. [ID:nTKU105817]

The euro EURJPY=R fell more than 1 percent on the day to 125.96 yen according to Reuters data, its weakest since late April.

The dollar fell 0.9 percent to 89.39 yen, a level last hit in mid-December.

(Reporting by London Forex Team)

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