Yen Bounces Back From 1-1/2 Week Lows Amid Improved Risk Appetite

Yen Bounces Back From 1-1/2 Week Lows Amid Improved Risk Appetite

07 Apr 2021 03:16 PM
 

Yen bounced back from its 1-1/2 week lows and traded 0.2% up near 110.00 as upbeat equities decreased Yen’s safe-haven appeal. The pair was also boosted by a rebounding Dollar.

Dollar rebounded from 2-week lows, supported by prospects of a quicker economic recovery of the US although, declining US Treasury yields capped Dollar’s and Yen’s gains.

Going ahead, market participants will remain cautious ahead of the release of the FOMC meeting minutes. Any signal of discussions related to tightening of the monetary policies will be eyed and may boost the pair further.