Japanese yen is mixed today as Forex traders look for direction. There is a lot to think about today, in terms of news and forecasts, and currencies are part of the confusion. Yen has slipped against the euro after choppy trading, but is higher against the pound and the dollar.
Japanese yen is down against the euro, which is gaining ground on the enthusiasm surrounding a solid Dutch bond auction — in spite of the recent resignation of Mark Rutte and the collapse of the government in the Netherlands. However, yen is higher against the dollar and the pound as Forex traders and others show a measure of caution.
US stocks continue to gain cautiously, and European stocks remain mixed. There is a lack of direction in the financial markets today, and that is translating to the currency market. It is uncertain, however, how much longer the yen will remain higher against the dollar. The recent strength of the yen has Japanese lawmakers concerned, and pressure is building for the Bank of Japan to take matters into its own hands and intervene to weaken the yen.
At 14:06 GMT USD/JPY is lower at 81.0785, down from the open at 81.1900. EUR/JPY is higher at 107.0030, up from the open at 106.8145. GBP/JPY is lower at 130.8140, down from the open at 130.9550.
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