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Forex: USD/JPY well bid above 79.00

By FXstreet.com,  June 17, 2012, 10:53:00 PM EDT

FXstreet.com (San Francisco) - The Japanese yen is losing ground against the greenback on Monday as investors' risk appetite turns favorable after Greece voted to remain in the euro zone after Sunday elections.

USD/JPY has rallied to as high as 79.29 in Asia, on the verge of recovering all Friday's losses as the bullish tone remains firm. The pair last trades at 79.23, recording a 0.8% gain on the day.

The political party supporting Greece's international bailout will begin forging a government later today and faces the challenge of lifting the economy out of a deep recession.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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