JPY Daily News

EUR/JPY Hits Fresh 11-year Low

The Japanese yen finished off last week on a bullish note, as the currency hit a fresh 11-year high against the euro. The EUR/JPY fell following poor fundamental euro-zone news that highlighted just how fragile the current European crisis is. Investors responded to the news by shifting their assets to the safe-haven yen. Among the majors, the JPY is often viewed as a stable, less risky currency. Against the US dollar, the yen was not as fortunate as the USD/JPY shot up to close out the week at 76.95.

This week, the yen will once again be guided by euro-zone and US fundamental news. Further negative news out of Europe may lead to additional gains for the JPY against the common currency. What will be more interesting to see is how the yen reacts to a batch of US housing and manufacturing data set to be released later in the week. Last week's US fundamentals came in below expectations. Should this week's follow the same trend, the JPY may be able to recoup some of its recent losses against the greenback.

Current Time: 05/27 01:02 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
01/16
	05:00	JPY	Household Confidence		38.1	38.9	38.9
	23:50	JPY	Tertiary Industry Activity	m/m	0.6%	-0.3%	-0.8%