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Japanese Yen Traders Near Opening After Falling Earlier

October 12, 2018 at 11:38 by Vladimir Vyun

Many Japanese coins on the banknotesThe Japanese yen fell intraday but as many other currencies was trading near its opening level later. Domestic macroeconomic data was mixed, giving the currency no reason to go one way or the other.

The M2 money supply increased by 2.8% in September from a year ago, while analysts had expected the same 2.9% rate of growth as in the previous month. The seasonally adjusted Indices of Tertiary Industry Activity rose 0.5% in August from the previous month, demonstrating a faster rate of growth than 0.3% predicted by experts. The International Monetary Fund did not revise the growth outlook in 2019 for Japan, keeping it at 0.9%.

USD/JPY traded at 112.31 as of 11:28 GMT today after opening at 112.15 and rising to the daily high of 112.50. EUR/JPY traded at about 130.04 following the rally from 129.98 to 130.50.

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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