The Japanese Yen appreciated around 0.6 percent in the last week on the back of weak market sentiments in early part of the trade which led to rise in demand for the low yielding currency. Further, optimistic economic data from the country supported an upside in the currency. The Yen touched a weekly high of 101.30 and closed at 101.49 on Friday.
Japan’s Core Machinery Orders jumped by 19.1 percent in March as against a decline of 4.6 percent a month ago.
We expect Japanese Yen to trade lower today on account of rise in risk appetite in market sentiments which will lead to fall in demand for the low yielding currency. However, favorable economic data from the country will cushion sharp downside or reversal in the currency.
www.punjiniveshonline.com
Japan’s Core Machinery Orders jumped by 19.1 percent in March as against a decline of 4.6 percent a month ago.
We expect Japanese Yen to trade lower today on account of rise in risk appetite in market sentiments which will lead to fall in demand for the low yielding currency. However, favorable economic data from the country will cushion sharp downside or reversal in the currency.
www.punjiniveshonline.com
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