Japanese yen has risen today as the renewed concerns that the recovery of the global economy is losing the traction fueled the demand for the safer assets.
The experts said that Federal Reserve was expected to increase its purchasing of the bonds as the US economy may weaken. The recent improvement of the sentiment on the global markets was not strong enough to completely remove the concerns for the global economy. The yen also strengthened as the concerns, that the policy makes will intervene to limit the currency’s gains, eased.
The gains of the yen were limited, nevertheless, by the rally of the stocks. The Standard and Poor’s 500 Index gained 0.5 percent, following the previous decline.
USD/JPY traded at about 85.43 today as of 19:51 GMT after previously declined to 85.18. EUR/JPY traded at 109.89 after it reached the daily low of 109.58.
If you want to comment on the Japanese yen’s recent action or have any questions regarding this currency, please, feel free to reply below.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment