The number of confirmed deaths in Japan continue to rise. Some analysts are speculating that despite the 15 minute warning that coastal residents received before the Tsunami, the number of casualties may rise to over 10,000. To make matters worse, it appears that the Japanese authorities have been unsuccessful in their efforts to avert a partial nuclear meltdown at the power plant in Fukushima. To worsen matters, other nuclear power plants are also reported to be in distress. In response, the Japanese authorities have implemented a mandatory evacuation order around the plant for all its citizens. The cost of this ongoing disaster is expected to be over 100 billion USD. Japanese stocks continue to fall amid the blackouts, death, broken infrastructure, and limited manufacturing output.
The Yen continues to rise, while the dollar has lost some of its value. The reason for this occurance is because the central bank of Japan is buying back Yens that it loaned to the United States. In light of all the damage that's occurred to the world's third largest economy, world markets continue to sink. With word of a possible radiation leak, Japanese stocks have plummeted. Many quality brands, companies and subsidiaries are linked with Japanese output, which will impact workers, output, and production throughout the world. The Forex Robot team will continue to closely watch the events that are taking place in Japan, and update our Forex Robot readers as the latest news becomes becomes available.
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