Yen remains bearish in high volatility day
- Last Updated on 10 February 2012
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The Japanese yen had a largely bearish day yesterday, after positive European and US news led to an increase in risk taking and boosted higher yielding assets. The EUR/JPY moved up close to 100 pips by the evening session and approached the 103.00 level. The USD/JPY spent a good part of the day floating close to the 77.35 level, up close to 30 pips during the European session.
Turning to today, yen values are likely to be determined by euro-zone and British news. Any positive euro-zone developments, particularly with regards to the possible Greek bailout, could lead to further losses for the yen.