JPY Daily News

Investors Remain Concerned About Possible BoJ Intervention

A return to risk taking has led to big losses for the Japanese yen against the euro. That being said, the currency is consistently hitting fresh 15 year highs against the US dollar. With the USD/JPY pair trading around the 81.00 level, investors are fairly concerned that the Bank of Japan will once again move in to devalue the yen. Japan, which is largely dependent on its export industry, relies on a weak yen to prop up its economy.

Today, JPY pairs will largely be influenced by data coming out of Europe. Should any of the indicators set to be released today generate more investor risk taking, traders can assume the yen will take more losses against the euro. At the same time, the JPY is considered a much safer bet than the dollar at the moment. Any significant bullish trend for the USD/JPY pair seems unlikely to occur in the near future.

Current Time: 05/27 01:29 GMT

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