Source: ForexYard
The Japanese Yen traded down versus the majority of its currency counterparts ahead of speculation that officials from the Bank of Japan will add stimulus measures at a policy meeting expected to take place this week.
The Yen fell 0.1 percent versus the 17-nation euro to trade at 107.43 during the morning hours of the Asian trading session,after dropping 0.5 percent during yesterday’s trading.The Japanese currency also saw losses against the U.S Dollar and the British Pound.
The Australian Dollar also made gains over the Yen after the first case of Mad Cow Disease in six years boosted speculation that the demand for Australian beef will rise.
There a number of Yen-related reports due for release on Thursday which could affect the price movements of the currency. The reports include,Japanese Unemployment Rate,Tokyo Core CPI,Retail Sales as well as the Bank of Japan’s Interest Rate Decision.
Forex Market Analysis provided by ForexYard.
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