The Japanese yen fell intraday but reversed its movement afterward, managing to erase losses against a few of its rivals and trim them against others. The currency has been under pressure from the central bank’s loose monetary policy for a long time, and Japanese officials signaled today that it will not change anytime soon.
It looks like the positive market sentiment has been turning around as riskier currencies reversed their previous gains during Tuesday’s trading session, while safer ones recovered. As a result, the Japanese yen gained against almost all most-traded currencies, except for the Swiss franc — another safe-haven currency.
The Japanese yen remained about flat against the US dollar but fell against other most-traded currencies after the Bank of Japan announced its monetary policy decision during the Asian trading session on Thursday.
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.
