JPY Daily News

Yen Takes Losses Following Bank Announcement

Following yesterday's announcement that the Japanese central bank may ease monetary policy in the coming weeks, the Yen traded bearish against several of its counterparts throughout the day. USD/JPY moved up in afternoon trading before retreating slightly to its current level of 90.32. CHF/JPY shot up over 100 pips throughout the day yesterday before correcting itself. At this time, the pair is trading around the 84.35 level.

Today, the Yen will likely maintain its current course, especially as risk taking seems to be the predominant sentiment among investors. Still, if the negative forecasts regarding the U.S. Trade Balance Report prove true, JPY could make some gains in afternoon trading against the greenback.

Current Time: 05/27 05:35 GMT

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