Yen Drops as Riskier Assets Gain on Confidence

The yen dropped started this Wednesday dropping versus most of the 16 main trading currencies as renewed risk appetite declined attractiveness for the Japanese currency, known for its safety profile that traders tend to abandon as market sentiment improves.

The yen did not manage to pare losses versus the euro in the beginning of this Wednesday’s trading session as speculations forecast that an Eurozone retail sales report will indicate improvements on the bloc’s economic conditions. Higher-yieldingcommodity-linked currencies were the best performers versus the Japanese yen, as risk appetite declined appeal for the Asian currency.

NZD/JPY traded at 64.29 as of 01:37 GMT from a previous intraday rate of 64.06.

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