Tue, 16 Oct 2012 00:00:00 +0200

The JPY Loses Momentum

The JPY saw a bearish trading session yesterday, losing ground against most of its currency crosses. The JPY fell sharply against the EUR, pushing the oft-traded currency pair to 101.11. The Japanese yen experience similar behavior against the GBP and closed at 0.8070. The JPY's trends will be affected by the rallies of its primary currency pairs today. It seems that the USD and EUR are expected to continue a volatile trading session today, especially against the Japanese currency. Traders should keep a close look on the news coming from the U.S. and Europe as these economies will be the deciding factors in the JPY's movement today, especially the U.S Core CPI at 12:30 GMT. It is also advisable for traders to follow any unexpected comments coming from key Japanese governmental figures, as this is also likely to lead to further JPY volatility.

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