Yen continues to fall, hits fresh multi-week lows

Yen continues to fall, hits fresh multi-week lows

11 Sep 2019 01:31 PM
 

The Japanese yen fell for the third consecutive session on Wednesday amid the prevalent risk-on mood. The recent optimism over the resumption of the US-China trade talks remained supportive of improving global risk sentiment and eventually weighed on the Japanese Yen's relative safe-haven status.

Traders further took cues from the ongoing rally in the US Treasury bond yields, which extended some support to the US Dollar and further collaborated to the dollar’s strong up-move against the yen on Wednesday.
 
Market participants now look forward to the US economic docket - featuring the release of Producer Price Index (PPI) and wholesale inventories - for some meaningful impetus later today.