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Japanese Yen Moving Upward as Data Supports Growth
The USD/JPY has been trading lower recently as investors move sporadically in and out of the greenback. After reaching upwards of 81.00 on Friday, the pair quickly dropped to 80.20 as of this morning. Japan's economy has published several positive figures over the last week, much of which has helped establish the yen's recent bullishness. Whether it will be enough to reverse much of the negative sentiment surrounding Japan is yet to be determined.
The yen suffers from its own economic concerns, while shifts in consumer sentiment have helped lift yen values against a number of its rivals. Last week's data, however, provided a ray of light which caused a secondary shift towards the yen for reasons other than safety. The USD/JPY looks to be continuing this movement for the foreseeable future as a result, especially given the massive shift away from the US dollar which is helping to lift the island currency.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 06/13 | ||||||||
| 00:50 | JPY |  BSI Manufacturing Index | -3.2 | -2.1 | -23.3 |  | ||
