Risk Aversion Helps Yen, Abe Fails to Mention Stimulus

The Japanese yen advanced today amid the risk aversion sentiment among Forex market participants and as Prime Minister Shinzo Abe did not mention additional stimulus measures.
Abe described the “third arrow” of his plan to revive the Japanese economy. Details will be available next week. Yet absence of news regarding additional monetary stimulus disappointed traders and allowed the yen to rally.
Additionally, the Japanese currency profited from risk aversion. Macroeconomic data from the United States and the eurozone was not good, making investors seek safe haven.
USD/JPY fell from 100.01 to 99.25 as of 17:54 GMT today. EUR/JPY went down from 130.77 to 129.91 and GBP/JPY declined from 153.10 to 152.81.

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