The Japanese yen fell to its lowest levels in almost four years against the euro in Friday early trades, after the Federal Reserve Bank shocked markets with refraining from reducing the $85 billion of monthly bond buying.
The Fed`s decision encouraged investors to trade in low yielding currencies to buy higher-yielding assets. Moreover, the yen fell versus euro, having the EUR/JPY pair recording a high of 134.726 from a low of 134.373, as the pair started today’s session at 134.509.
The yen also fell versus the GBP after yesterday’s gains, where the GBP/JPY pair inclined to a high of 159.310 from a low of 159.231. At the same time, the yen gained versus dollar in the Asian session, where the USD/JPY pair recorded a low of 99.266 from a high of 99.553, while the pair started today’s session at 99.387.
The union currency noticeably inclined versus the greenback, before the European Central Bank President Mario Draghi talks next week. The EUR/USD pair inclined to a high of 1.35369 from a low of 1.35296.