The Japanese yen declined today against the other major currencies as the stock markets corrected after the yesterday’s fall and the yen became too overbought. The Japanese yen declined today against the other major currencies as the stock markets corrected after the yesterday’s fall and the yen became too overbought.
Some analysts go as far as saying that the lower business confidence index that will be reported tomorrow will push the yen out of the list of «safe haven» currencies and, lacking the higher interest rate, it will be the major Forex outsider in the near future. Of course, if the confidence index is reported at a reasonably better value, the yen may go up significantly.USD/JPY rose from 97.43 to 98.32 as of 9:07 GMT today.
EUR/JPY advanced from 128.63 to 130.64 today, while GBP/JPY went up from 138.97 to 140.38.
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