Yen Reverses Losses vs. Euro as Risk Appetite Leaves FX Market

The Japanese yen rose today, reversing yesterday’s losses against the euro, as positive mood slowly leaves the Forex market and traders once again seek safety in safe-haven currencies.
The yen was weakening against the euro yesterday as positive macroeconomic data from all around the world was boosting risk appetite among investors. Yet willingness to risk didn’t last long and currently the Japanese currency is rising once again. The yen gained against the dollar, touching three-month high yesterday, as US economic reports were worse than expected, though they weren’t really bad.
USD/JPY dropped from 76.19 to 76.10 and EUR/JPY fell from 100.31 to 99.97 as of 9:50 GMT today.

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