The Japanese Yen appreciated around 0.4 percent yesterday on the back of weak market sentiments in later part of the trade which led to rise in demand for the low yielding currency. The Yen touched an intra-day high of 101.70 and closed at 101.87 on Wednesday.
Japan’s Prelim Gross Domestic Product (GDP) gained by 1.5 percent in Q1 of 2014 as against a rise of 0.2 percent in Q4 of 2013. Tertiary Industry Activity jumped by 2.4 percent in March from decline of 0.9 percent a month ago.
We expect Japanese Yen to trade higher today on account of rise in risk aversion in market sentiments which will lead to rise in demand for the low yielding currency. Further, optimistic economic data from the country will support an upside in the currency.
www.punjiniveshonline.com
Japan’s Prelim Gross Domestic Product (GDP) gained by 1.5 percent in Q1 of 2014 as against a rise of 0.2 percent in Q4 of 2013. Tertiary Industry Activity jumped by 2.4 percent in March from decline of 0.9 percent a month ago.
We expect Japanese Yen to trade higher today on account of rise in risk aversion in market sentiments which will lead to rise in demand for the low yielding currency. Further, optimistic economic data from the country will support an upside in the currency.
www.punjiniveshonline.com
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