Japanese Yen Rises Versus Euro in Monday’s Quiet Trading

The Japanese yen rose against some major currencies, including the euro and the Great Britain pound, today. The gains were limited, though, and the yen was largely flat against other majors and even fell a bit against commodity currencies.

Traders were rather disappointed by the last week’s Jackson Hole Symposium as neither Federal Reserve Chairwoman Janet Yellen, nor European Central Bank President Mario Draghi talked about monetary policy. As the meeting turned out to be kind of non-event, speculators seek for other factors that may drive the market. This week’s nonfarm payrolls can be such a factor, though US politics and associated uncertainty can influence markets as well.

USD/JPY traded at about 109.24 as of 11:50 GMT today, not far from the opening level of 109.17. EUR/JPY slipped from 130.41 to 130.31.

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