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Jun 3, 2013
Flash: Yen supported by more risk-averse trading conditions - BTMU
FXstreet.com (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Misubishi UFJ notes that the yen has continued to firm modestly in the Asian trading session with USD/JPY moving closer to support at the 100.00-level.
He sees that the yen is deriving support from more risk-averse trading conditions with global equity markets weakening further overnight with the Nikkei 225 index declining by just over 3.7%. JGB yields have declined alongside the sell off in Japanese equities perhaps indicating that conditions are beginning to normalise in the JGB market after the recent sharp sell off.
He sees that the yen is deriving support from more risk-averse trading conditions with global equity markets weakening further overnight with the Nikkei 225 index declining by just over 3.7%. JGB yields have declined alongside the sell off in Japanese equities perhaps indicating that conditions are beginning to normalise in the JGB market after the recent sharp sell off.