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JPY Daily News
Additional Volatility Forecasted with Light Japanese News Day
The Japanese yen strengthened against most of its major counterparts yesterday, continuing to prove that for the time being this is a solid currency that traders can rely on to provide them with steady profits. The yen extended gains versus the EUR on Tuesday, to trade around 112.40 amid a broad sell-off in the EUR. The JPY also saw bullishness against the GBP and closed at 132.40.
As for today, Japan will be absent from the economic calendar. The JPY's trends will be affected by the rallies of its primary currency pairs. It seems the USD and EUR are expected to continue a volatile trading session today and their crosses with the JPY will likely be as well. Traders should keep a close look on the news coming from the U.S. and Europe as these economies will be the deciding factors in the JPY's movement today, especially the U.S. Building Permits at 13:30.
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