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Investors Consider Risk Appetite Following ECB Rate Statement
The USD/JPY was seen trading somewhat higher this morning, holding steady near 80.40 at today's opening Asian sessions. Market news released out of Europe today will likely be the driving force behind forex market values and traders would be wise to watch the repercussions of yesterday's rate statement by the European Central Bank (ECB). The semi-hawkish statement by the ECB hinted at an imminent rate increase, but investors appeared underwhelmed and largely moving towards the safety of the US dollar.
The Japanese yen has been trading recently with largely positive results since Friday as investors turn their focus towards news out of the euro zone. After a week of ups and downs, the Japanese yen appears set to make gains today as investors largely flee risk after yesterday's rate statements in Europe and Britain.
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