Yen Weakens as FX Traders Feel Optimism

The Japanese yen fell against all other most-traded currencies today as the risk-positive sentiment on the Forex market reduced demand for the currency as a safe haven, while speculations about an intervention from policy makers weakened the yen further.
Japan’s opposition Liberal Democratic Party leads in polls ahead of the election that will be conducted at December 16. The party promised to spur economic growth and was talking about monetary easing as a way to do so. The US Federal Reserve will conclude its two-day meeting today and market participants expect the central bank will announce additional stimulating measures, reducing appeal of safer assets.
USD/JPY rose from 82.50 to 82.85 and EUR/JPY advanced from 107.29 to 107.93 as of 11:01 GMT today.

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