Japanese Yen Mixed as Traders Wait for Fed, Other Events

The Japanese yen was mixed today amid mild risk aversion on the Forex market. Traders were reluctant to open new positions at the start of the week full of important events.
There will be many important macroeconomic releases this week, including US nonfarm payrolls. But the highlight of the week should be the monetary policy meeting of the Federal Reserve, which is expected to result in an interest rate cut. Market participants will also watch US-China trade negotiations that will resume tomorrow.
Meanwhile, Japan’s Ministry of Economy, Trade and Industry reported that retail sales rose 0.5% in June after climbing 1.3% in May. Analysts had predicted a smaller increase of 0.2%.
USD/JPY traded little changed at 108.62 as of 12:22 GMT today after dropping to the session minimum of 108.42 earlier. EUR/JPY was also little changed at 120.85. GBP/JPY dropped from 134.41 to 133.57. CHF/JPY edged up from 109.25 to 109.49, touching the session maximum of 109.62 intraday.

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