The market sentiment was improving today, meaning that currencies perceived to be safe were not in high demand. As a result, the Japanese yen was falling against its other most-traded peers.
Today’s traders’ mood was relatively positive, helping riskier currencies and making safer ones vulnerable. Additionally, the revised estimate of Japan’s industrial production showed a decline while economists had hoped for an increase. Yet analysts argue that concerns about the state of the global economy would support the appeal of the yen as a safe investment at least in a short term.
USD/JPY rose from 116.70 to 117.33 and EUR/JPY gained from 127.56 to 127.83 as of 12:58 GMT today.
If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.
