The yen hovered near multi-month highs against the dollar and euro early on Thursday, highlighting a cautious mood among investors still fretting about the recent selloff in emerging markets.
Trading, however, was light and expected to remain so as key event risks loomed. The outcome of the European Central Bank (ECB) policy review is due later on Thursday, followed by U.S. jobs data on Friday.
The dollar bought 101.51 yen, while the euro fetched 137.35 yen, both having lost a bit of ground overnight to be back near 11-week troughs of 100.75 and 136.25 respectively.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.