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Japanese Yen Extends Losses on Wednesday

August 29, 2018 at 13:01 by Vladimir Vyun

Japanese yen symbolThe Japanese yen was weak during the current trading week. The Wednesday’s session was no different as the currency fell against most major rivals, though managed to gain on the soft euro.

The major theme of the week was the successful outcome of the preliminary trade talks between the United States and Mexico. That led to hopes that the similar success can be reached in negotiations with Canada and perhaps even other US trading partners. The yen, being considered a safe currency, usually has limited demand during times of optimism and risk appetite.

USD/JPY rose from 111.19 to 111.36 as of 12:53 GMT today. EUR/JPY slipped from 130.02 to 129.88, though bounced from the daily low of 129.58.

If you have any questions, comments, or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.