Yen Suffers from Fischer’s Comments

Riskier currencies reacted negatively to the comments that Fed Vice Chairman Stanley Fischer made on Sunday, but safer ones, like the Japanese yen, were also not immune to the impact.
As many other currencies, the yen opened sharply lower against the US dollar, though also versus other most-traded rivals. The tightening stance of the Federal Reserve is in sharp contrast to the easing bias of Japan’s central Bank. That makes the Japanese currency especially vulnerable against the greenback.
USD/JPY traded near the opening level of 100.72 as of 8:54 GMT today after settling at 99.87 on Friday. EUR/JPY traded at 113.78 after closing at 113.38 on Friday and opening at 113.93 on Monday.

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