Yen Reverts Losing Trend on Domestic Speculations

The yen started this Thursday’s session in Asia gaining versus currencies regionally and globally, on speculations that local investors are repatriating capital before the Japanese fiscal year ends in the following weeks.

Speculations that Japanese exporters are buying the national currency before the fiscal year end in Japan allowed the yen to gain versus virtually all of the 16 main traded currencies in the beginning of the Asian session this Thursday, after general optimism from earlier this week in the Asian-Pacific axis declined considerably, allowing assets in Japan to gain attractiveness. One of the biggest losers versus the yen during the past hours was the Aussie dollar, as a report in the nation indicated that less jobs than expected were added by employers n Australia, raising doubts regarding the economic recovery in the South Pacific.

Different speculations coming from regions with different economic profiles as the European Union, the South Pacific and China decreased risk appetite and as the fiscal year end approaches in Japan, the yen reverted a negative trend in currency markets today.

AUD/JPY declined to 82.44 as of 02:07 GMT from as high as 83.29 hours earlier.

If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.