The Japanese yen dipped in value on Wednesday against the world's reserve currency, according to Bloomberg.
Currency volatility dropped and European stocks climbed, spurring investors to devote attention and resources toward higher-yielding assets. The yen fell against 15 of 16 of its major rivals and is likely to be impacted by the release of minutes from last month's meeting of the Federal Open Market Committee, the policy-making arm of the U.S. Federal Reserve.
"Today's focus will be on minutes from March FOMC and speeches by officials from both Fed and ECB as they are likely to provide the market with more hints on the monetary policy of the major central banks going forward," Credit Agricole said on Wednesday, according to Agence France-Presse.
The yen dropped about 0.2 percent against both the U.S. dollar and the common currency of the European Union. Its gains on Tuesday against the euro climbed as high as 0.9 percent.
Haruhiko Kuroda, president of the Bank of Japan, said on Tuesday that the economy of Japan is making a healthy recovery, Agence France-Presse reports.
Risk Disclosure
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.
