JPY Daily News

Analysts Forecasting an Appreciation for the JPY

Recent speculation that the U.S. Treasury's plan to inject $250 billion into financial institutions would not prevent a recession in the world's largest economy has caused the JPY to rise for the first time in five days against the dollar. The forthcoming data from the U.S. is predicting that the nation's retail sales have fallen at a faster pace recently as job losses and housing slumps hurt consumption, these factors may have strengthened the JPY versus the USD. The Japanese currency could also get support from the stock market decline as it shows that investors aren't completely ready to take on risk. The U.S. and Asian stocks have fallen recently, damping investor confidence in higher-yielding assets.

The currency was traded at 101.35, up from 102.07 yesterday. Since Japan isn't as adversely affected as the U.S. and Europe are by the credit crisis, the JPY remains a safe-haven currency and is likely to be bought further in today's trading. It has climbed 9% versus the EUR this month as mounting credit-market losses encouraged investors to shed higher yielding assets funded by low-cost loans in Japan. As market concerns over a U.S. recession intensify, these worries may lead to a buying session for the yen.

Current Time: 05/27 00:00 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
10/15
	05:30	JPY	Revised Industrial Production	m/m	-3.5%	-3.5%	-3.5%