Yen loses to euro on week, gains on session

The yen ended the week down against the euro, the Norwegian krone and the Australian dollar as investors became more willing to sell their yen to enter into carry trades once global equities markets started to gain back losses and risk looked more enticing.

However, the yen gained on the euro during the day Friday as it traded at ¥156.7523 to the euro after trading at ¥158.12 to the euro on Thursday.

The Japanese currency dropped to ¥19.502 to the Norwegian krone and to ¥93.952 to the Australian dollar.

The US dollar, meanwhile, strengthened in relation to the euro and the yen on Friday.

In afternoon trade in Europe the dollar traded at $1.4718 to the euro and by early afternoon in New York the greenback was at $1.4671 to the shared currency, while it cost ¥107.68 to buy a dollar in morning trade in New York but by 1 p.m. in New York the US currency had given back some of the gains and it cost ¥106.8450 to buy a dollar.

The greenback lost ground to the pound as it took $1.9773 to buy a pound in early afternoon trade in New York, but that was a bit better than its position in morning trade, when it took $1.9837 to purchase a pound.

Story link: Yen loses to euro on week, gains on session