The Japanese Yen appreciated by around 0.3 percent yesterday taking cues from mixed global market sentiments, leading to rise in demand for the low yielding currency.
The Yen touched an intra-day high of 98.08 and closed at 98.35 on Thursday.
Appreciation in the Yen is expected in today’s trade as a result of rise in risk aversion in market sentiments which will lead to rise in demand for the low yielding currency.
Technical Outlook valid for November 1, 2013
|JPY/INR Nov’13 (NSE/MCX-SX)||Sideways||62.80/62.60||63.20/63.50|
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