The Japanese yen was mixed against major rivals today, trading flat against the US dollar and the euro, falling versus the Great Britain pound, and rising against the Swiss franc. The yen was soft against higher-yielding currencies of emerging markets.
Dovish comments from Federal Reserve Chairperson Janet Yellen led to speculations that the Fed will be slow with its monetary tightening. That encouraged investors to seek higher-yield, purchasing riskier assets. In particular, carry traders became more active as volatility on the market subsided.
USD/JPY traded virtually flat at 113.21 as of 10:43 GMT today. AUD/JPY gained from 87.55 to 87.84, trading near the highest level since February 16.
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