Japanese yen is mixed in forex trading today as traders look for direction. Earlier, yen was higher against its counterparts, but now the currency seems to be pulling back — at least against the US dollar and the Great Britain pound. Yen still remains slightly higher than the euro. The financial markets continue to fluctuate between confidence and uncertainty. With some signs of economic improvement, there is a measure of confidence. On the other hand, though, improvements aren’t as solid as expected, and there are a number of uncertainties ahead. Earlier, yen was higher across the board, but now the dollar and the pound of erased their losses. Euro, however, is still struggling against the yen. With elections coming up in France and Greece this weekend, there is a lot of uncertainty about what’s next for the eurozone. Nicolas Sarkozy could very well lose in France, and that could change the entire dynamic of the eurozone and the eurozone bailout situation. Additionally, a government change in Greece could change the effectiveness of the bailout package — and whether or not the country sticks with it. It’s no wonder that there is still life in the yen; Forex traders may need something stable for now. At 12:49 GMT USD/JPY is slipping to 80.1610 from the open at 80.1820. EUR/JPY is down to 105.3025 from the open at 105.4670. GBP/JPY is up to 129.7375 from the open at 120.7250. If you have any questions, comments or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

Euro is slipping right now, following the latest data that promotes the idea that global economic uncertainty remains. Concerns about the eurozone economy are affecting the euro, but the 17-nation currency was showing resilience — until the latest economic news out of the United States. Earlier risk appetite due to cautious optimism is transforming in to risk aversion, and the euro is giving up its earlier gains against the US dollar.

Earlier, the euro made some gains against the US dollar on the expectation that risk appetite was returning because of economic recovery. Good news about jobless claims in the United States has been overshadowed by disappointing ISM data. On top of that, the eurozone’s own woes are in the spotlight again.



Even though the ECB kept rates steady at 1%, president Mario Draghi has already expressed the difficult road ahead for an economic recovery in the currency region. So, while the euro enjoyed a boost against the US dollar earlier, that is already gone as equities turn to losses and the euro gives up its gains. Without a clear plan for Europe, the euro is likely to continue to languish.

At 14:44 GMT EUR/USD has slipped to 1.3152 from an earlier high of 1.3182. EUR/USD opened at 1.3158. EUR/GBP is still a little higher, though, at 0.8128, up from the open at 0.8123. EUR/JPY is also still a little higher at 105.6555, up from the open at 105.4550.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.