BOJ Decision Helps Yen

The Japanese yen maintained its recent bullish trend throughout the day yesterday, following the Bank of Japan's decision to leave interest rates at their current level of 0.10%. The decision, combined with poor fundamental data out of both the US and euro-zone, caused investors to revert their funds to the safe-haven currency during the European session. Both the USD/JPY and EUR/JPY sunk to a one month low at 80.90 and 105.94, respectively. Turning to today, the yen seems poised to add to its recent gains, as market sentiment remains bearish toward both the US and euro-zone. In addition, with no significant economic indicators set to be released today, the Japanese currency could extend its bullish momentum against its other rivals, including the British pound, Australian dollar and Swiss franc.

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading. ForexYard

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading. ForexYard