JPY Daily News

Yen Sees Minor Gains Against EUR and GBP

The safe-haven yen saw some small gains against both the euro and UK pound in overnight trading, as investors remain cautious regarding the strength of the European currencies. The EUR/JPY pair has fallen close to 40 pips since markets opened, and currently stands at the 110.35 level. The GBP/JPY pair dropped a similar amount, before staging a bullish correction. Currently the pair is trading at 130.20.

Today, yen values will likely be determined by news out of the euro-zone. Should investors continue to doubt the strength of common currency, the yen is likely to continue on its upward trend.

Later in the week, traders will want to pay attention to the Japanese Trade Balance figure, scheduled to be released late on Tuesday night. A positive figure will likely give the yen a bigger advantage over its main currency rivals.

Current Time: 05/27 05:14 GMT

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