JPY Daily News

Has the Japanese Yen Peaked?

Japanese stock indices experienced rapid growth yesterday as the yen finally began to weaken against the US dollar. Following the Federal Reserve's announcement to implement the quantitative easing program, known as QE2, the lagging market began to pick up momentum. The boost in confidence for riskier assets helped to put much-needed sell pressure on the yen.

The USD/JPY climbed towards 81.50, a price not seen for over a week, but appears to be correcting downward somewhat as of this morning. Outlook for the yen remains bearish as Japanese equities gain in value. The Nikkei 225, which had been lagging behind other equities on concerns over the strengthening yen's impact on exports, was trading roughly 1.1% higher yesterday, outpacing most of its counterparts. If QE2 has the positive effects expected, we could be seeing the beginning of a turning point for the yen.

Current Time: 05/27 01:21 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
11/09
	05:00	JPY	Economy Watchers Sentiment		41.2	41.7	40.2
	06:00	JPY	Prelim Machine Tool Orders	y/y	112.9%	-	70.9%