Japanese Yen Gains on Rivals amid Light Trading

The Japanese yen was strong against its most-traded rivals during the quiet Friday trading, though light volumes ensured that the currency’s moves were not significant.

While many markets close early today due to the upcoming Christmas, Japanese markets were closed for the entire session. The reason for that is observance of the Emperor’s Birthday in Japan.

Despite holidays, next week will bring quite a few economic reports from Japan. The most important of them will be inflation report released on Tuesday. The Bank of Japan will release its policy meeting minutes on Monday and then macroeconomic forecasts on Thursday. The releases may give insight into the bank’s plans regarding monetary policy in the future and whether it is going to expand its already substantial monetary easing.

USD/JPY slid from 117.53 to 117.25 as of 19:22 GMT today. EUR/JPY fell from 122.68 to 122.47. GBP/JPY edged down from 144.32 to 143.87.

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