Japanese Yen Trades Slightly Lower amid Mild Risk Appetite

The Japanese yen was flat-to-lower today as mild risk appetite on the Forex market made safe currencies less appealing to traders. The losses were limited, though, and the currency has trimmed most of them by now.
As for today’s macroeconomic data in Japan, the Bank of Japan reported that monetary base expanded by 4.7% in January from a year ago. That was in line with market expectations of a 4.6% increase and the previous month’s growth of 4.8%.
Being considered a safe haven currency, the yen depends less on domestic data and more on the market sentiment.
USD/JPY traded at 109.86 as of 18:54 GMT today after opening at 109.51 and rising to the daily high of 110.16. EUR/JPY was at about 125.60 after opening at 125.41 and touching the session maximum of 125.95.

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