Yen gives way against the 10 main currencies on the market. Gold appreciates – Markets in a minute

Yen falls against the 10 main currencies on the market

The yen falls against a basket of the 10 main currencies on the foreign exchange market (US dollar, euro, pound sterling, yen, Australian, New Zealand and Canadian dollars, Swiss franc and Norwegian and Swedish krona).

As an example, the Japanese currency falls 0.17% against the North American currency, making it necessary to pay 153.7990 yen for each dollar. Trading volume is at weaker than usual levels as it is a public holiday in Japan.

Investors are paying close attention to the future of the Bank of Japan’s (BoJ) monetary policy, after the yen fluctuated last week – having risen around 3% in a single session and then falling back – fueling speculation that the authorities Japanese companies will have intervened in the foreign exchange market, to support the Japanese currency.

The US Treasury Secretary, Janet Yellen, acknowledged, cited by Bloomberg, that the Japanese currency registered sudden movements, but refused to acknowledge whether Japan bought its own currency or not, in order to maintain the price.

Looking to the future, the head of the foreign exchange strategy department for Asian currencies at RBC Capital Alvin Tan believes, cited by Bloomberg. that the currency could fall to 160 yen per dollar, due to the “widely high” spread between the Japanese and US reference rates.

The euro trades at the waterline (0.04%) at 1.0764 dollars.