The Japanese yen dropped today as the Bank of Japan released its Tankan survey that showed an expansion of both manufacturing and non-manufacturing sectors last quarter. This data reduced risk aversion on the Forex market.
The manufacturing index rose from -8 in the first quarter of 2013 to 4 in the second quarter. The non-manufacturing gauge increased from 6 in Q1 to 12 in Q2. The figures above zero indicate an advancement of the sectors. The yen fell against all other 16 most-traded currencies after the report.
USD/JPY rose from 99.22 to 99.55 and EUR/JPY advanced from 129.09 to 129.88 as of 10:37 GMT today.
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