Japanese Yen Appreciated By 0.61

Japanese Yen appreciated by 0.61 percent yesterday as the longawaited news conference by President-elect Donald Trump provided scant clarity on future fiscal policies which disappointed the markets worldwide. This boosted the demand for safe haven Yen. In today’s trading session, Japanese Yen is expected to depreciate as recent lows in the currency will prompt the traders to place fresh bets.

JPYINR trading range for the day is 59.3-60.02. JPY continued to gain after the release of supportive Japanese trade data. Pressure also seen on dollar after US President-elect Donald Trump’s Wednesday press conference, and it is hard to gauge the data’s precise impact November’s trade balance was revealed to have been in surplus to the tune of ¥ 313.4 billion ($2.72 billion) as imports fell much faster than exports.

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