USD/JPY worst week since January

FXStreet (Córdoba) - The yen rose sharply across the board amid risk aversion and against the US dollar had the best week since January. USD/JPY finished trading in a range near weekly lows.

On Thursday the pair reached 4-week lows at 107.51 and since then moved sideways between 108.20 and 107.60; and ended trading slightly below 108.00, posting the lowest weekly close since early September

The recent decline of the USD/JPY was the first significant correction since August, when started to rally from 102.00. Last week peaked at 110.07, reaching the highest price since 2008.