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JPY Daily News
Japanese Yen Mixed as Investors Digest Policy Minutes
The JPY has been trading with largely positive results since Friday as investors turn their focus towards news out of Europe. After a week of ups and downs, the Japanese yen appears set to make gains today as investors largely flee riskier assets. The low interest rates of the Japanese economy have helped pull many investors into the safety of the yen following Thursday's rate announcement by the ECB. Rumors of Greece's exit from the euro zone have also sent traders on a hunt for safer assets.
With Japan's economy coming back online from a week of holiday celebrations, the market should receive a modicum of additional liquidity from the return of this island giant. The impact may be felt in today's early hours, but the news emerging out of Europe about last week's rumors will likely lead today's market environment. Traders should tune in to any comments made by European officials as these are likely to drive today's more important portfolio shifts and adjustments.
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