June 21, 2012
It's a knock-out, folks! After yesterday's round of risk appetite, the Japanese Yen was unable to get back on its feet as its major counterparts threw in punch after punch. USD/JPY closed 5 pips shy of the 79.00 handle while EUR/JPY ended the day at 100.80.
Japan didn't release any economic data yesterday, leaving the yen at the mercy of risk sentiment. Unfortunately for the lower-yielding currency, markets seem to be pleased with Greece's progress on their coalition government as traders found the guts to buy higher-yielding currencies.
There are no reports on Japan's schedule until the end of the week, which means that the yen could stay sensitive to risk sentiment. Stay on your toes at all times!
Last edited by Pipcrawler; 06-21-2012 at 02:54 AM.
"The only cable I watch is the pound baby."