The Japanese yen rallied today during and after the Asian trading session, as the stock market in Japan plunged rapidly today. The
The yen ended the last week on Forex with a significant gains against U.S. dollar, Australian and New Zealand dollars, euro and pound. It happened, because bad economic statistics in U.S. spurred pessimistic sentiments on all stock markets, leading to the growth of the
Today USD/JPY traded at 103.16 after opening at 103.61, EUR/JPY fell from 157.42 to 156.49, GBP/JPY decreased from 206.05 to 204.83 (this currency pair is definitely heading to 200.00 support level now), AUD/JPY fell from 96.68 to 96.02, while NZD/JPY slid down from 82.85 to 82.08.
Its currently hard to say for how long will the yen continue to grow, but its fate will become more clear after the U.S. trading session. If global stock markets repeat the Japanese markets drop, yen will rise even more.
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