24 Jan 2014
Flash: Yen strengthens on EM risk sentiment deterioration - BTMU
FXstreet.com (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the Yen strengthened yesterday, driven by a deterioration in global risk sentiment.
Key Quotes
"The yen has remained stronger in the Asian trading session after strengthening yesterday driven by a deterioration in global investor risk sentiment. Asian equity markets have continued to decline overnight with the Nikkei 225 index having fallen by just under around 2%."
"The deterioration in global investor risk sentiment has been driven by an intensified sell off in emerging markets with Argentina finally allowing a sharper one off devaluation of the peso yesterday. The official USD/ARS rate rose by around 13% yesterday with the peso recording its largest daily decline since 2002."
Key Quotes
"The yen has remained stronger in the Asian trading session after strengthening yesterday driven by a deterioration in global investor risk sentiment. Asian equity markets have continued to decline overnight with the Nikkei 225 index having fallen by just under around 2%."
"The deterioration in global investor risk sentiment has been driven by an intensified sell off in emerging markets with Argentina finally allowing a sharper one off devaluation of the peso yesterday. The official USD/ARS rate rose by around 13% yesterday with the peso recording its largest daily decline since 2002."