After a week of relatively consistent losses, the Japanese Yen had an unexpected gain today on the unwinding of carry trades.
If this trend should continue over the few trading sessions, there is potential for the Yen to end up near its support level of 95. With no economic news released, investors look forward to next week, with the G7 meeting and BoJ minutes due for release this weekend. This should set the tone for Monday’s trading session, along with providing investors vital information about the issues that are of main concern for officials.