The Japanese yen declined today after positive data about European manufacturing and service industries reduced demand for safety of Japan’s currency.
The flash eurozone manufacturing PMI rose from 46.9 to 48.7 and the flash eurozone services PMI advanced from 48.8 to 50.5 in January from December. German manufacturing and services, as well as French services, also expanded, while French manufacturing declined. Losses of the yen versus the euro were limited as a disagreement between Greece and bondholders about reduction of interest rates on the nation’s debt reignited fears of crisis in Europe.
USD/JPY was up from 77.03 to 77.28 as of 12:17 GMT today. EUR/JPY traded at 100.54, up from the opening rate of 100.24 and following the advance to the daily maximum of 100.83.
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