The Japanese yen fell today yet again as signs of growth in major world economies reduced demand for the currency as a safe haven, while persisting monetary accommodation in Japan continues to eat away the yen’s strength.
Expansion of China’s manufacturing made Forex traders prefer growth-related currencies to safer ones. The manufacturing sector of the eurozone and Great Britain was expanding too, adding to risk appetite. Meanwhile, Bank of Japan Governor Haruhiko Kuroda reiterated that monetary policy will stay accommodative until inflation reaches the 2 percent target.
USD/JPY advanced from 102.48 to 102.74 and GBP/JPY rose from 167.75 to 168.37 as of 12:29 GMT today.
If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.