USD/JPY Trading at 97.15 Result of USD Weakness

Many currency analysts anticipate the yen weakening to around 105 to 110 per U.S. dollar by year-end, but as the final quarter of the year gets into full-swing the chance of the currency hitting those estimates later than forecast are rising.

Japan’s currency firmed to a one-month peak against the greenback this week around 97, up more than 6 percent from the 4-1/2 year low set in May.
The rebound in the yen is a worrying sign for Japan’s policy makers who have been hoping a weak currency would underpin the economic recovery, fuel business sentiment and a rally in Japanese stocks. This in turn is seen encouraging companies to spend or increase wages to help spur spending in the world’s third biggest economy.

via CNBC

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.