USD/JPY Bounces from Lowest in 17 Months

The Japanese yen retreated from the highest level in almost a year and a half against the US dollar it has reached earlier today. The currency fell against other most-traded peers as well.
Gains of European stocks and comments from Japanese officials stopped the yen’s rally. The latter fueled speculations that Japan’s policy makers are going to intervene in order to weaken the currency. Nevertheless, demand for safety remains strong, meaning that the yen may yet resume its movement to new highs.
USD/JPY edged up from the open of 107.97 to trade at 108.25 as of 13:49 GMT today after reaching 107.63 earlier — the lowest level since October 2014. GBP/JPY gained from 152.45 to 154.24.

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