Japanese Yen depreciated by 0.62 percent on Friday’s trading session on the back of strong dollar and divergence in monetary policy. However, demand for safe haven improved on rise in risk aversion in the domestic markets. In intraday Yen touched a low of 114.18 and closed at 113.92 against Dollar.
Yen is expected to trade with negative bias on the back of strong dollar and divergence in monetary policy. Further, disappointing economic data from Japan will hurt Yen. However, demand for safe haven may improve on rising tension between United States and North Korea. JPYINR July expected to trade in a range between 56.50 on lower side and 57.20 on higher side with downward trend.