Japanese Yen Posed to End Week Among Losers

The Japanese yen paused its decline today but will likely end the week as the weakest among major currencies. The yen had limited support from Japanese macroeconomic data released during Friday’s trading.
The BSI Manufacturing Index climbed 11.0 percent during the third quarter of this year, providing a surprise to analysts, most of whom were counting on decline. The positive report supported the currency but only to a limited degree. Traders felt optimism due to speculations about a potential delay of the Fed interest rate hike and anticipation of economic stimulus in Japan. And the yen usually reacts negatively to optimistic mood among speculators.
USD/JPY was little changed at 120.59 as of 11:08 GMT today. EUR/JPY traded at 135.85 after opening at 136.01.

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