The Japanese yen fell today as comments of US policy makers made investors less scared and reduced demand for the currency as a safe haven. Not that need for safety was helping the yen previously.
US policy makers were trying to hush speculations about an end to quantitative easing. They were successful to some degree. It is interesting to see that the yen suffered more than the dollar.
To tell the truth, currently the yen tends to fall whatever the market sentiment is. It looks strange as the Bank of Japan paused its interventions, easing the downside pressure for the yen, yet the currency did not take opportunity to rally even as market participants were fearful. And the yen is certainly falling now, when traders are less scared. The Japanese currency was falling even against the pound, which itself was soft against other majors.
USD/JPY rose from 97.72 to 98.45 as of 22:43 GMT today. EUR/JPY advanced from 127.14 to 128.32. GBP/JPY ticked up from 149.62 to 150.21.
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Yen Falls as Investors Less Scared of QE End
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