(Reuters)The yen edged lower on Wednesday, remaining under pressure as risk sentiment improved and safe haven demand eased, on relief over the first round of the French presidential election. Against the yen, the euro edged up 0.2 percent to 121.76 yen . The dollar edged up 0.2 percent to 111.30 yen. The Canadian dollar took a breather, having taken a hit on Tuesday after the United States imposed duties on Canadian softwood. The Canadian dollar stood at C$1.3572 per U.S. dollar, not very far from Tuesday's low of C$1.3626 against the greenback, the loonie's lowest level since February 2016.
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Yen sags as risk sentiment recovers; euro holds firm
Improving risk sentiment on reduced concerns over the French presidential elections helped weigh on the yen. The dollar rose 0.3 percent to 111.38 yen, pulling further away from a five-month low of 108.13 yen set on April 17. The Trump administration's plans for tax reforms are another focal point for markets. REUTERS/Yuriko Nakao/File PhotoSINGAPORE The dollar edged higher against the yen on Wednesday, while the euro held firm near a 5-1/2 month high due to receding concerns about the risks posed by the French presidential election. "The reality is any tax changes or tax reforms or tax cuts, may not take place for some time, and Congress at this point is far from being agreed on what shape or form they are going to take," he added.
FOREX-Yen on defensive as risk sentiment revives
The Canadian dollar stood at C$1.3572 per U.S. dollar, not very far from Tuesday's low of C$1.3626 against the greenback, the loonie's lowest level since February 2016. The Canadian dollar took a breather, having taken a hit on Tuesday after the United States imposed duties on Canadian softwood. Against the yen, the euro edged up 0.2 percent to 121.76 yen . The dollar edged up 0.2 percent to 111.30 yen. The euro edged up 0.1 percent to $1.0938.
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