The Japanese Yen completed yesterday's trading session with mixed results versus the major currencies. The JPY fell against the GBP yesterday, pushing the oft-traded currency pair to 135.10. The JPY was broadly unchanged vs. the EUR yesterday and closed its trading session at around the 111.95 level. The JPY did see some bullishness as well as it gained 40 points against the USD and closed at around 91.70.
The Japanese market should have a heavy effect on the JPY versus its major currency counterparts, as the Overnight Call Rate will be announced today. The rate is expected to remain unchanged but traders should pay close attention to the BoJ Press Conference that will follow to look for any predictions of Japan's economic future. A bullish statement could lead some traders to believe the BoJ is forecasting a rosier financial climate in Japan.