JPY Daily News

Japanese Yen Continues to Find Strength

The JPY weakened against its major crosses yesterday, gaining 142 points to close at 101.57 by day's end. An increased risk appetite fueled by U.S. equity gains moved investors from the safety of the low-yielding JPY to positions of higher risk and returns.

The Japanese government announced its second economic stimulus package in a 3-month time period. The aim of this program is to provide assistance to Japanese citizens who have suffered recent investment losses. The JPY functions as a counter cyclical currency; as the global recession deepens, the JPY's gains continue further. Today, the JPY may continue to gain momentum against the majors, with a particular emphasis on the USD/JPY potentially reaching a level of 100.00.

Current Time: 05/27 02:07 GMT

Add events to google calendar Mark all Unmark all Print

#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
10/17
	07:35	JPY	BoJ Governor Shirakawa Speaks		*	*	*