5 Mar 2015
Japanese Yen taking a hit across the board
FXStreet (Mumbai) - The Japanese Yen weakened against most of the major currencies during the European session as markets brace up for the European Central Bank meeting and Friday’s Non-farm payrolls (NFP) report in the US.
The positive action seen in the major European equities and the US index futures drove the USD/JPY pair to 120.14 levels. Though Treasury yields are more or less flat, the pair rose above 120.00 levels from the low of 119.61, as the markets seem to prefer the US dollar ahead of the NFP report. The pair is up 0.38% as I write.
Meanwhile, the EUR/JPY and the GBP/JPY pair, too, have turned positive, trading higher by 0.12% and 0.31% respectively. The GBP/JPY pair has shot above its 100-DMA located at 183.03 levels. Against the CAD, the Japanese Yen is down 0.45% at 96.74 per CAD. A status quo policy decision by the Bank of Canada on Wednesday has pushed up the CAD/JPY pair. Elsewhere, the AUD/JPY is up 0.24% at 93.81, while NZD/JPY is down 0.54% at 90.35 levels.
The positive action seen in the major European equities and the US index futures drove the USD/JPY pair to 120.14 levels. Though Treasury yields are more or less flat, the pair rose above 120.00 levels from the low of 119.61, as the markets seem to prefer the US dollar ahead of the NFP report. The pair is up 0.38% as I write.
Meanwhile, the EUR/JPY and the GBP/JPY pair, too, have turned positive, trading higher by 0.12% and 0.31% respectively. The GBP/JPY pair has shot above its 100-DMA located at 183.03 levels. Against the CAD, the Japanese Yen is down 0.45% at 96.74 per CAD. A status quo policy decision by the Bank of Canada on Wednesday has pushed up the CAD/JPY pair. Elsewhere, the AUD/JPY is up 0.24% at 93.81, while NZD/JPY is down 0.54% at 90.35 levels.