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JPY Daily News
Japanese Yen Consolidating as Traders Weight Global Sentiment
The Japanese yen (JPY) was seen trading mildly lower versus most other currencies this morning as its value as an international safe haven was being challenged by an air of impending intervention by the Bank of Japan (BOJ). Being linked to international risk sentiment, the yen has experienced an expected uptick during a period when shifts away higher yielding assets became prominent. The JPY has been experiencing several long strides lately from the various shifts into riskier assets.
The latest moves of the yen are causing some concerns, however, as many speculators are anticipating another round of intervention by the BOJ. With industrial production data out this week, traders are waiting to see what the BOJ will do in the face of a downturn. A strengthening yen has benefits for the buying power of the island economy, though its dependence on exports makes a strong yen unfavorable for longer-term growth in Japan's current financial model. As the island currency remains bullish, the pressure begins to mount for the expected bank move to lower its currency strength.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 10/11 | ||||||||
| 06:00 | JPY |  Economy Watchers Sentiment | 47.3 | 46.9 | 45.3 |  | ||
| 06:00 | JPY | Household Confidence | 37.0 | 37.4 | 38.6 | | ||
| 06:00 | JPY | BoJ Monthly Report | * | * | * |  | ||
| 00:50 | JPY | Core Machinery Orders | m/m | -8.2% | 4.7% | 11.0% | | |
