| Forex News Center | | | JPY News Archive |
JPY Daily News
Japan Cuts Export Growth Forecast on Rising Yen
The Japanese yen was on the rise yesterday as Japan slashed export forecasts in anticipation of a sluggish Asian market heading into the New Year. The USD/JPY was trading lower at 83.35 by the middle of the Tokyo trading session. The pair had fallen from as high as 83.70 from the day before.
The sudden breakout of the JPY against its currency rivals put a damper on many Japanese investment firms' outlook on Japanese growth due to the effect such a currency value would carry on exports.
With a bank holiday taking place in celebration of the Emperor's birthday, Japanese markets will be fairly quiet today. Traders will want to focus their attention on the American markets today as most market news will emerge from the Western Hemisphere. The greenback will be driving today's market and traders will want to bear this in mind before taking positions on the yen.
Add events to google calendar
Mark all
Unmark all
Print
