14 Mar 2014
Flash: JPY remains well bid - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, observes that risk aversion is keeping the JPY well demanded.
Key Quotes
"The yen has continued to strengthen in the Asian trading session with USD/JPY trading back down towards the bottom of its recent tight trading range between 101.00 and 103.00. The yen is deriving support from more risk-averse trading conditions mainly reflecting heightened investor concerns over slowing economic growth in China".
"Risk assets are coming under more downward pressure with weakness in the S&P500 index which declined by just over 1.0% overnight feeding through into the Asian trading session as the Nikkei 225 index has declined by over 3.0%."
Key Quotes
"The yen has continued to strengthen in the Asian trading session with USD/JPY trading back down towards the bottom of its recent tight trading range between 101.00 and 103.00. The yen is deriving support from more risk-averse trading conditions mainly reflecting heightened investor concerns over slowing economic growth in China".
"Risk assets are coming under more downward pressure with weakness in the S&P500 index which declined by just over 1.0% overnight feeding through into the Asian trading session as the Nikkei 225 index has declined by over 3.0%."