(MENAFN– ecpulse)
Yen declined against dollar and other major currencies, after fundamentals showed Japan`s current account deficit widened in December on higher imports of energy due to having nuclear plants shut down.
The Japanese yen dropped in the first trading day this week, following a noticeable drop by the end of last week after the disappointing U.S. employment change that came less than estimates, leading to lower demand for dollar and pushing traders towards other major currencies to gain against the low yielding yen and dollar.
Nevertheless, yen remains a risk measure in the currencies market, and its decline is expected to be followed by rising risk appetite, which is going to push the Asian currency towards further declines.
USD/JPY, rose to the highest in one week at 102.63, while it is currently hovering around 102.43. Euro also picked up against yen to record the highest at 139.79, before it decline to 139.61 levels.
AUD/USD is currently trading around 0.8952, as the Australian currency maintained its gains against the federal currency and other majors, following last week`s positive performance.
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