The Japanese yen rose against other most-traded currencies as the drop of crude oil weighed on inflation in developed economies.
The yen was rising today as US crude dropped to almost $42. Lower energy prices lead to lower inflation, and that hurt most currencies. Yet oil prices bounced later (to $42.72 as of now), making the yen trim its gains.
USD/JPY was down from 111.37 to 110.94 intraday before trading at about 111.33 as of 11:28 GMT today. EUR/JPY traded at 124.30 after opening at 124.39 and falling to the daily low of 123.83.
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