JPY Daily News

Japanese Yen Benefits from Shift into Safe Havens

The Japanese yen has benefited lately from a shift into safe haven assets. Traders have viewed the dovish statements from the Federal Reserve yesterday, and the recent decline in European fundamentals, as a sign of economic retreat and moved their investments accordingly.

Technical buy-ins on the yen also appears to have been triggered following the European Central Bank's (ECB) rate hike last week. These combined technical and fundamental factors have helped lift the yen in today's early trading hours. Traders should not allow themselves to be duped by these value shifts, however, since Japan's economic strength remains under question. As long as the EUR moves bearish, it appears safe to buy into the yen, but be wary of the inevitable swing.

Current Time: 05/27 02:00 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
04/12
	07:00	JPY	Prelim Machine Tool Orders	y/y	73.9%	*	49.5%
	00:50	JPY	CGPI	y/y	1.7%	1.9%	-