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9 Jun 2014
JPY remains weak - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, remarks the ongoing softer tone around the Japanese currency.
Key Quotes
"The yen has continued to weaken modestly in the Asian trading session with weakness most marked against the high yielding G10 currencies of the Australian and New Zealand dollars".
"The ongoing decline in financial market volatility as evident by the VIX index falling to its lowest level since February 2007 is providing a supportive environment for carry trades, boosting demand for high yielding currencies and weighing on low yielding funding currencies like the yen."
Key Quotes
"The yen has continued to weaken modestly in the Asian trading session with weakness most marked against the high yielding G10 currencies of the Australian and New Zealand dollars".
"The ongoing decline in financial market volatility as evident by the VIX index falling to its lowest level since February 2007 is providing a supportive environment for carry trades, boosting demand for high yielding currencies and weighing on low yielding funding currencies like the yen."