JPY Daily News

Japanese Economy Holding Steady in Light of Recent Figures

The market witnessed the JPY trading within a narrow range last week as the weakening global stock market encouraged stability for the Japanese yen. The economic indicators released from Japan had little impact on the JPY's movement. Machine Orders fell almost 5% from -8.9% to -14.2%; the Japanese Trade Balance rose a significant amount; and the Current Account showed a JPY surplus. The JPY continues to rise against all its rival currencies as it hit a two-month high against the USD earlier in today's trading session $105.28.

Today marks the beginning of the Bank of Japan's (BoJ) two-day policy meeting to discuss Interest Rates, which are expected to hold steady at 0.50% on Wednesday the 17th. The Interest Rate shift will be calculated into the JPY market sometime tomorrow followed by an official press conference a few hours later in which the decision is laid out in more detail. Traders may expect a small amount of volatility during that press conference. As for today, traders should keep an eye on the EUR and USD as indicators of the strength of the JPY, as there is the possibility of a significant decrease in the value of the dollar which will no doubt affect the other major currencies.

Current Time: 05/27 01:41 GMT

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