The EUR/JPY cross stages a goodish bounce from a two-week low touched during the Asian session this Friday and climbs back above the 173.00 round-figure mark in the last hour.
EUR/JPY attracts some dip-buyers on Friday and recovers over 150 pips from a two-week low. The uptick is exclusively sponsored by the emergence of fresh selling around the Japanese Yen. Intervention fears and political uncertainty in France might keep a lid on any meaningful gains. Spot prices, for now, seem to have stalled a sharp retracement slide from the 175.40-175.45 area, or the highest level since 1992 set on Thursday amid the emergence of fresh selling around the Japanese Yen .
Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
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