Nikkei approaching two-year highs as Yen weakens

Omkar Godbole FXStreet Contributor

The Japanese stock markets remain well bid on the back of Yen weakness with the benchmark index eyeing fresh two-year highs above 20,318 levels.

The index was last trading at 0.32% or 64 points higher on the day around 20,217.50 levels. A weaker Yen is lifting the exporter issues.

The USD/JPY pair rose to 111.94 on Monday despite the weak US durable goods and regional manufacturing data and extended gains to 112.07 (highest since May 24).

The sentiment remains cautious in the markets outside Japan. Australia’s S&P/ASX 200 is down 0.40%, while South Korea’s Kospi is flat lined.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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