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JPY Daily News
Yen Sees Mixed Results against the Majors
The Japanese yen saw an extremely volatile session during yesterday's trading. The yen began yesterday's trading with a 60 pip gain against the U.S. dollar, which was subsequently erased by the end of the session. The yen also a 120 pips gain vs. the euro and a 150 pips loss vs. the British pound.
The yen's bullishness vs. the euro took place as a result of lower risk-appetite in the market. The euro has weakened against most of the major currencies, and the yen was no exception.
On the other hand, the yen fell against the dollar following a better than expected Factory Orders figure. The report showed that factory orders in the U.S. have increased by 0.7% in November, beating projections for a 0.1% decline. As a result, the dollar gained against most of the major currencies.
As for today, no significant data is expected from the Japanese economy. Traders are advised to follow the Japanese and the U.S. equity markets as they are likely to have a large impact on the yen's trading.
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