EUR/JPY week 46

The Japanese yen depreciated for the third straight session to 124.650 per EUR on Wednesday, the weakest in near a month as the successful development of Pfizer/BioNTech Covid-19 vaccine continues to boost investors’ risk appetite. Still, it will take some time for a vaccine to be deployed and for the global economy to return to pre-pandemic levels, likely pressuring the yen up in the near future. The currency gained near 3% so far this year as it is considered a safe haven in times of uncertainty.

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