USD/JPY Back Above 102 as War Prospects Fade

The yen nursed heavy losses early on Wednesday, having suffered a vicious turnaround as safety demand faded after Russian President Vladimir Putin played down the prospect of a war in Ukraine.

The dollar jumped to 102.26 yen from Tuesday’s low of 101.40, while the euro climbed to 140.49 yen from 139.28. The move nearly reversed all the yen’s gains made over the previous two sessions.

The Australian dollar rallied nearly 1 percent to 91.52 yen , putting a one-month trough of 90.01 plumbed on Monday firmly in the rear-view mirror.


Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at Visit to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.