The Japanese Yen is stronger across the board against every major currency except for the Australian dollar. With the Dow Jones Industrial Average down as much as 75 points intraday, the yen crosses struggled to stay afloat.
Even though the US stock market index reversed course to end the trading session unchanged, the Yen crosses only managed to see shallow rallies. We have finally seen the US dollar take charge and dictate market price action once again. The strength of the US dollar against currencies like the Euro, Swiss Franc and British pound played a major role in preventing EUR/JPY, CHF/JPY and GBP/JPY from ending in positive territory, like the Dow. Japanese leading indicators are due for release tonight. The recent weakness of the Yen should have helped to boost overall economic activity.