Yen Goes Higher in Risk-Averse Environment

The Japanese yen gained on its most-traded peer’s during the Tuesday’s trading session as the risk-averse trading environment made more desirable currencies associated with safety.

Traders were growing increasingly nervous ahead of the speech of US President Donald Trump that he is going to deliver before the Congress later today. Concerns about the political climate in Europe, while eased a bit, also remained a negative factor for the market sentiment, bolstering the appeal of the yen.

As for today’s economic data from Japan, it was mixed, with rising retail sales and unexpectedly strong growth of housing starts, but also with a surprise drop of industrial production.

USD/JPY slipped from 112.69 to 112.32 as of 10:46 GMT today. EUR/JPY declined from 119.28 to 119.02.

If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *

forty eight − 42 =