The JPY has continued to gain against the USD and the Yen now finds itself in the stronger parts of its range versus the major currencies. Japanese export companies will certainly not be happy with the value of the JPY, but there is little that they can do about this – as safe haven traders pour into the currency as risk adverse momentum continues to grow. Asian bourses mirrored their global counterparts the past week and have produced negative results. The JPY must be monitored carefully as it approaches the strongest parts of its range versus the USD.
Written by bforex.com
