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Yen Holds Firm After Post-BOJ Surge, Sterling Rebounds

Posted by Chris Advincula on Jun 17, 2016 3:44:08 AM

(Jun 17 Reuters) The yen held near multi-year highs against the dollar and euro early on Friday, having surged after the Bank of japan refrained from adding fresh stimulus, while sterling recovered ground as the killing of a pro-European Union lawmaker was expected to boost sentiment for the "Remain" camp in Britain's EU referendum.

Because of its safe-have status, the yen has benefited from uncertainty over the outcome of next Thursday's referendum in Britain on whether to remain in the EU or leave, with both the U.K. and EU economies seen suffering if Britain quits.

The dollar last stood at 104.22 yen, unable to sustain a rebound toward the 105 mark, and was gyrating near Thursday's 22-month low of 103.555 the previous day.

Click on the link below to see the full story from Reuters: (by Ian Chua and Hideyuki Sano)

Yen holds firm post-BOJ surge, sterling rebounds

yen.pix.6.17.2017.jpg

Topics: Asian session, Forex Trading, USD/JPY, Fundamentals, BOJ. Fed, BREXIT

 

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