FXstreet.com (Córdoba) – The Yen was among the biggest gainers during the week and finished near weekly highs across the board. Despite the recovery of the USD/JPY during Friday’s American session, the Japanese currency managed to hold gains in the market.
Risk aversion boosted the demand for the Yen that rose sharply in the market particularly in the first three days of the week.
The USD/JPY moved slowly during most of the week and broke to the downside on Friday but it rebounded and quickly rose back from 76.61 to the 77.00 region, to end the week slightly lower. The US Dollar and the Japanese currency were the best performs in the market.
European currencies fell against the Yen for the second week in a row and finished considerably under the level of the last intervention by the BoJ. The retreated from October highs continues and EUR/JPY, GBP/JPY and CHF/JPY are approaching 2011 lows.
Similar pattern followed commodity currencies against the Yen but the Kiwi actually posted the lowest weekly close since July 2009 as the NZD/JPY ended the week hovering above 58.00.
Risk aversion boosted the demand for the Yen that rose sharply in the market particularly in the first three days of the week.
The USD/JPY moved slowly during most of the week and broke to the downside on Friday but it rebounded and quickly rose back from 76.61 to the 77.00 region, to end the week slightly lower. The US Dollar and the Japanese currency were the best performs in the market.
European currencies fell against the Yen for the second week in a row and finished considerably under the level of the last intervention by the BoJ. The retreated from October highs continues and EUR/JPY, GBP/JPY and CHF/JPY are approaching 2011 lows.
Similar pattern followed commodity currencies against the Yen but the Kiwi actually posted the lowest weekly close since July 2009 as the NZD/JPY ended the week hovering above 58.00.
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