JPY Daily News

Yen Little Changed against Currency Rivals

The Japanese yen bounced back against the EUR yesterday as ECB President Trichet's remarks over the weekend caused modest bearish pressure on the European currency. The pair dropped as low as 112.40 before paring those losses and climbing back towards 113.60 in yesterday's late trading sessions.

The JPY was little changed against the dollar, however, as the pair stagnated around the 81.20 price level. Concerns about another Japanese monetary intervention appear to have passed into the background this week as many analysts are expecting few such maneuvers ahead of this weekend's G20 meetings. Traders may be expecting a sharp revaluation following the weekend's meetings, but for the moment the JPY appears to be holding steady against most currencies.

Current Time: 05/27 04:30 GMT

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