The Japanese yen was soft during Wednesday’s trading session and remained weak at the start of Thursday’s trading as signs of improvement in the global economy made the currency less desirable as a safe haven asset.
While the positive news from China was beneficial for the US dollar, it was detrimental to the Japanese currency. Additionally, the yen felt pressure from speculations about a possible intervention. Overall, traders saw no benefit in buying the currency at the present time.
USD/JPY ticked up from 109.33 to 109.43 as of 00:20 GMT today. EUR/JPY rose a little from 123.26 to 123.36 after falling yesterday.
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