Yen trading was particularly reserved, just like most major currencies, as the US heads into its long Fourth of July weekend... Versus the dollar, the yen closed the week at 96.15 price level from its 95.81 open during the Asian session. Japan’s economic cupboard was completely bare last Friday, which also muted any movement in the currency’s price action.
No hard market-hitting economic data ahead this week. Because of this, the yen’s price action in the foreign exchange market would most likely be determined by degrees in risk appetite as well as the underlying fundamental background of currencies pitted against it. In any case, we will see
Japan’s leading index for May later at 5 am GMT. The forecast currently stands at 77.00%, slightly higher than last reporting period’s 76.2%.