The Japanese Yen depreciated by 0.8 percent yesterday on the back of rise in risk appetite in the global markets which led to decline in demand for the low yielding currency. It touched an intra-day low of 79.96 and closed at 79.94 on Monday.

Outlook

In today’s session, we expect to depreciate on account of rise in risk appetite in the global market sentiments along with expectation of stimulus measures to be announced by the government to boost the economy which will lead to decline in demand for the low yielding currency.

Angel Commodities