JPY Daily News

Japanese Yen Meeting Resistance as Risk Appetite Returns

This week's talk of rising risk aversion may have come to a halt yesterday as American retail sales data helped highlight growing consumer optimism, higher oil inventories signaled resistance for over-bought crude oil, and British unemployment fell an unexpected 0.2%. The impact has been for safe havens, like the Japanese yen, to find its feet swept out from underneath it.

The yen has fallen against most of its currency rivals since yesterday. The USD/JPY has risen from 83.47 yesterday afternoon to 83.93 by this morning. Against the British pound, traders have witnessed a leveling-off effect as the pair consolidates around 136.40. With the economic calendar today focused on American economic news, the yen will likely not experience much change unless the US economy continues to release positive data. If that is the case today, traders may want to anticipate a second rise in risk appetite as traders move to higher yielding currencies.

Current Time: 05/27 02:13 GMT

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