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Currency Analyst since 2010

Yen rose on Kuroda's comments

EUR/USD is little changed just below 1.1300. Market players are concerned about the lack of progress in negotiations between Greece and its creditors. A new reform proposal submitted by the nation this week failed to fully satisfy its European partners. Talks in Brussels with creditors were expected to continue today.

USD/JPY fell to 122.50 as the Bank of Japan Governor Haruhiko Kuroda said the yen’s effective exchange rate is “very weak” and unlikely to weaken further. According to Kuroda, the Federal Reserve’s future rate hike is already priced in exchange rate.

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