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Japanese Yen Gains on Majors Despite Positive Market Sentiment

December 3, 2018 at 17:10 by Vladimir Vyun

1,000 and 10,000 Japanese yen notesWhile the Japanese yen was soft against commodity currencies today, it managed to gain on many other most-traded peers. That was surprising considering the risk-on market sentiment, which made safe currencies less attractive to traders.

The Ministry of Finance Japan reported that capital spending rose 4.5% in the third quarter of this year from the same period a year ago, missing the average forecast of an 8.6% increase. The Nikkei Japan Manufacturing Purchasing Managers’ Index dropped from 52.9 in October to 52.2 in November according to the final estimate. Still, it was above the forecasts and the preliminary estimate of 51.8.

USD/JPY fell from 113.67 to 113.55 as of 16:59 GMT today. EUR/JPY traded at 128.94 after opening at 129.03 and falling to the daily low of 128.55.

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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