Yen Sees High Volatility but Little Changes
Posted on 30. Dec, 2008 by admin in JPY Economic News, Japanese Yen, Japanese Yen Currency
Japanese markets are closed for a banking holiday today and will be for the remainder of the year. This may ease the pressure on the USD/JPY. The recent appreciation of the Yen has prompted the Japanese government to call for direct government intervention to depreciate the Yen in the open market. As the appetite for risk has climbed the last month, so has the value of the Yen.
The USD/JPY closed the day down at 90.30. Don’t expect too much movement from this currency pair until trading in the New Year begins. Look for the JPY to hover around the 90.00 mark.
