RTTN: Yen Recovers From Near 2-week Low Against Euro
(RTTNews) - Thursday, the Japanese yen recouped the losses it made in early Asian deals against most major currencies. The yen thus recovered from near a 2-week low against the euro and 1-week lows against the aussie and kiwi. Meanwhile, the yen remained higher against the Canadian dollar.
The Bank of Japan's November meeting minutes and the quarterly business outlook survey's large company business sentiment index released earlier today likely influenced the yen.
The minutes of the November policy board meeting showed that many Bank of Japan Board members were of the view that the central bank should maintain accommodative monetary conditions amid highly uncertain conditions over the nation's economy,
The Ministry of Finance report showed that the business sentiment diffusion index for major Japanese firms slipped to minus 1.9 in the fourth quarter from minus 0.3 in the the previous quarter. Sentiment among large manufacturers eased slightly to 13.2 from 15.5 in the preceding quarter, while sentiment among major non-manufacturers worsened to minus 10.7 from minus 8.6.
The yen gained against the euro after touching near a 2-week low of 131.52 at 8:00 pm ET Wednesday. As of now, the euro-yen pair is worth 131.10, compared to yesterday's New York session close of 131.40.
At 11:45 pm ET, the yen reached 91.42 against the US dollar and 87.98 against the Swiss franc, compared to early Asian session lows of 91.77 and 88.31, respectively. The dollar-yen pair closed trading at 91.66 and the franc-yen pair at 88.24 on Wednesday.
The yen fell to 146.49 against the pound at 8:00 pm ET Wednesday. Thereafter, the pair showed choppy trading but the yen advanced shortly after and is now worth 146.15 against the pound. At yesterday's New York session close, the pound-yen pair was quoted at 146.30.
The yen that fell against the currencies of Australia and New Zealand in early Thursday Asian deals reversed direction after touching a 1-week low of 80.88 and 67.73, respectively. As of now, the aussie-yen pair is trading near yesterday's close of 80.65. Against the kiwi, the yen is now worth 64.53, compared to 64.61 hit late New York Wednesday.
The yen remained higher against the Canadian dollar in Asian deals on Thursday. As of now, the loonie-yen pair is worth 87.18, compared to Wednesday's close of 87.45.
There are no significant economic reports due to be released in the European session today.
From the U.S., the durable goods orders report for November and the weekly jobless claims for the week ended December 19 are scheduled for release in the North American session.
