The Japanese yen was weak today, trading either flat or lower versus its most-traded counterparts. The trading session was rather uneventful, with no major news to drive the market. There were several macroeconomic reports released in Japan, but nothing particularly important.
The Japanese yen was attempting to rise today but struggled to do so as the market sentiment was still favoring riskier high-beta currencies. The yen was trading about flat versus most of its rivals, though not all of them.
The Japanese yen was very weak today. In fact, it logged losses against all other most-traded currencies. Domestic macroeconomic data was decent, therefore it could not be the reason for the weakness. Dovish comments of the central bank’s deputy governor, on the other hand, could.
The Japanese yen fell versus commodity currencies but managed to hold its ground against other most-traded currencies today. Markets remained under the impact of the positive coronavirus vaccine news, which limited demand for safer currencies, including the yen.
The Japanese yen gained today as optimism about the coronavirus vaccine waned, making safer currencies more appealing to traders.
The Bank of Japan was about flat against major rivals and fell versus commodity currencies today. Better-then-expected domestic manufacturing data was unable to help the currency. Now, traders wait for minutes of the latest monetary policy meeting of the nation’s central bank.
The Japanese yen rallied during Friday’s trading session. Market analysts explained the rally by risk aversion ahead of the US presidential election as well as by mostly positive macroeconomic reports released in Japan over the trading session. Currently, though, the currency has trimmed its gains, losing them outright against some of its rivals.
The Japanese yen was mixed today, rising against some peers and falling against others. Generally, though, the yen did not move far as trading was rather quiet on Monday.
The Japanese yen gained, rising against all other most-traded currencies, during Monday’s quiet trading. Today’s calendar is light in terms of macroeconomic releases, and trading is expected to be quieter than usual due to holidays in the United States and Canada. As for today’s economic reports in Japan itself, they were mixed.
The Japanese yen is under pressure in the middle of the trading week as the central bank warned that economic uncertainty remains “very high” because of the coronavirus pandemic. But the yen could find support on macroeconomic data suggesting the contraction in the world’s third-largest economy might have subsided. Could the traditional safe-haven asset continue its strong 2020 in the final quarter?
