Forex News

The yen dropped started this Wednesday dropping versus most of the 16 main trading currencies as renewed risk appetite declined attractiveness for the Japanese currency, known for its safety profile that traders tend to abandon as market sentiment improves.

The yen did not manage to pare losses versus the euro in the beginning of this Wednesday’s trading session as speculations forecast that an Eurozone retail sales report will indicate improvements on the bloc’s economic conditions. Higher-yielding commodity-linked currencies were the best performers versus the Japanese yen, as risk appetite declined appeal for the Asian currency.

NZD/JPY traded at 64.29 as of 01:37 GMT from a previous intraday rate of 64.06.

If you want to comment on the Japanese yen’s recent action or have any questions regarding this currency, please, feel free to reply below.

Earlier News About the Japanese Yen:

• Yen Falls on Fed Positive Remarks (2010-01-28)
• Yen Climbs on Market Sentiment Pessimism (2010-01-27)
• Yen More Attractive on Renewed Risk Aversion (2010-01-23)
• Yen Best Performer on Trading Restrictions (2010-01-21)
• Yen Benefits from China's Lending Restrictions (2010-01-15)

This entry was posted on Wednesday, February 3rd, 2010 at 3:41 am and is filed under Japanese Yen. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.