Japanese yen continues to show weakness today, although it is showing some gains against a weak US dollar. For the most part, though, yen is likely to remain vulnerable against its major counterparts.
Japanese yen is lower against the euro and the UK pound today, even though it is gaining against the US dollar. With the idea that the Fed will begin tapering its asset purchase program in September, there are expectations that, overall, yen weakness will become more pronounced.
That’s not the case today, though. The US dollar is pulling back against its major counterparts, and the yen is higher against the greenback. Against other majors, though, the yen remains weak. There is a lot of focus right now on what’s next for China, as well as what is going to happen in the eurozone, especially with Greece and Portugal.
In many ways, the focus is not so much on Japan and the yen as it is on other currencies and economies. The yen will likely be influenced by reactions to other issues, and less likely to be an actor on its own.
At 13:10 GMT USD/JPY is down to 101.1105 from the open at 101.2465. EUR/JPY is up to 130.0115 from the open at 129.7300. GBP/JPY is up to 150.8850 from the open at 150.6300.
If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.
Be First to Comment