FOREXYARD: Forex News Blog | |
| Posted: 15 Jan 2013 02:45 AM PST
Following several days of losses, the JPY turned bullish during Asian trading last night, after comments from the Japanese economy minister created doubts about how aggressive any future monetary easing from the Bank of Japan will be. The EUR/JPY fell 160 pips, eventually trading as low as 118.27, while the USD/JPY lost 97 pips to reach as low as 88.61. Comments from Fed Chairman Bernanke yesterday, in which he discussed how fragile the US economic recovery is, boosted demand for gold which led to an increase in prices. The precious metal advanced close to $10 an ounce during Asian trading to reach as high as $1676.47. Main News for Today US PPI- 13:30 GMT Read more forex news on our forex blog |
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