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Yen Down as Traders Feel No Need for Safe Haven, Positive Data Doesn’t Help

October 10, 2018 at 11:46 by Vladimir Vyun

Japanese currency and coinsThe Japanese yen was weak across the board today as markets calmed down and the sentiment stabilized, giving traders no incentive to buy safer currencies. Positive macroeconomic data did not help the currency.

Cabinet Office reported that core machinery orders rose 6.8% in August from the previous month. That is instead of falling by 3.9% as analysts had predicted. The orders jumped as much as 11% in July. But as it often happens, the general market sentiment had more influence on the yen than domestic data.

USD/JPY climbed from 112.95 to 113.24 as of 11:37 GMT today. EUR/JPY advanced from 129.79 to 130.24.

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

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