Yen Mixed After BoJ Minutes

The Japanese yen rallied against the euro but fell against some other majors, including the US dollar, today. The currency received some support from risk aversion caused by tensions between Turkey and Russia. Minutes of the Japan’s central bank released today left mixed feelings among analysts.
The Bank of Japan released minutes of its October meeting, which said:

Most members shared the view that, as in the earlier discussion regarding the outlook for economic activity and prices, the underlying trend in inflation had been improving steadily, judging from developments in the output gap and inflation expectations.

Yet some market analysts thought the notes were dovish. Meanwhile, investors are still wondering how the Turkey’s attack on the Russian warplane will affect the geopolitical situation and the investment climate.
USD/JPY rallied from 122.53 to 122.71 as of 13:14 GMT today after falling to the daily low of 122.25. At the same time, EUR/JPY dropped from 130.39 to 129.97.

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