JPY Daily News

Japan Pushes for Less Market Turmoil

The Yen completed yesterday's trading session with mixed results versus the other major currencies. The JPY was broadly unchanged vs. the EUR yesterday and closed its trading session at around the 150.00 level. The JPY experienced similar behavior against the GBP as the pair dropped from 0.7937 to 0.7894 by days end. The JPY also saw bullishness against the USD as it jumped over 100 pips and closed at 104.70.

Yesterday, the most important financial indicator that was published from the Japanese economy was the Overnight Call Rate, which, as expected, stayed unchanged at 0.50%. The Bank of Japan (BoJ) said in a press conference that it was on guard against market turmoil as it decided to leave Interest Rates unchanged. The decision to keep Japan's target Overnight Call Rate at 0.50%, which came after the US Federal Reserve also held its target Interest Rates steady, was arrived at by a unanimous vote.

As for today, the sole event that is scheduled from the Japanese economy is the BoJ Monthly Report. This indicator will likely have little effect on the market. Forex traders invested in JPY-related crosses should stay tuned to world stock market movement today as this information should determine the Yen's direction.

Current Time: 05/27 01:40 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
09/18
	06:00	JPY	BoJ Monthly Report		*	*	*
		JPY	BoJ Governor Shirakawa Speaks		*	*	*