August 16, 2012
Mixed day for the yen, as it edged higher versus the euro but took its bumps and bruises versus the pound. EUR/JPY closed 14 pips lower at 96.90, while GBP/JPY rose 21 pips to finish at 123.70.
No data on tap from the Land of the Rising Sun, but do keep an eye on more developments from the euro zone. We’re starting to hear more rumblings about the European debt drama, which could eventually trigger a wave of risk aversion that benefits the yen.
"The only cable I watch is the pound baby."