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Japanese Yen futures to depreciate on rise in risk appetite

The Japanese Yen appreciated 3.5 percent in the last week on the back of rise in risk aversion in the global markets which led to increase in demand for the low yielding currency.

June 17, 2013 11:31

The Japanese Yen appreciated 3.5 percent in the last week on the back of rise in risk aversion in the global markets which led to increase in demand for the low yielding currency. Further, favorable economic data from the country supported an upside in the currency.

The Yen touched a weekly high of 93.78 and closed at 94.07 against dollar on Friday.

For intra-day, we expect the Japanese Yen to depreciate, taking cues from rise in risk appetite in the global markets, which will lead to fall in demand for the low-yielding currency.

Courtesy: angelcommodities


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