The Japanese yen was extremely weak today despite uncertainty about the policy decision of the European Central Bank. The currency dropped against the US dollar and was also falling versus the euro but bounced against the shared European currency after the ECB meeting.
The yen was trading mostly lower today but jumped sharply against the euro after the ECB made a policy announcement. The Japanese currency was rising against the common currency of the eurozone since the middle of February. Against the dollar, the yen was trading in a channel since December, losing volatility.
USD/JPY advanced from 119.69 to 120.06 as of 14:35 GMT today. EUR/JPY rose from 132.58 to 133.58 intraday but retreated to 132.48 later.
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