Market sentiment towards the end of this week’s session were moved by the group of 20 meeting, and the yen proved to be one of the best performing currencies as it climbed to a seven-month high after statements made in the meeting.
Today Japan’s Finance Minister Hirohisa Fujii stated, in the G-20 meeting, his opposing position to any kind of intervention in currency markets,
this has added confidence for traders to purchase yen-priced assets towards the end of this week’s session, as the yen gained in comparison to the totality of 16 main trader currencies in foreign-exchange markets.
Today USD/JPY traded at 89.73 as of 18:04 GMT from a previous rate of 91.21 yesterday.
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