EUR gains on JPY amid increase in risk taking
- Last Updated on 21 February 2012
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The yen took significant losses against the euro yesterday, following positive euro-zone news which led to investors abandoning safe-haven assets. At the same time, the USD/JPY hit resistance just below the 80.00 level, which was followed by a slight downward correction. The pair spent much of the day hovering around the 79.45 level.
Turning to today, traders will want to continue monitoring the situation in the euro-zone as it is likely to be the driving force behind risk appetite. Additionally, fundamental indicators out of both the UK and Canada may influence market sentiment. Positive indicators may cause the yen to extend its losses against riskier currencies like the euro and Aussie.