JPY Daily News

Japanese Yen Remains Bullish as Risk-Taking Subsides

The Japanese yen (JPY) was trading stronger versus most of its currency counterparts yesterday after several data releases have shifted traders back into safety since late last week. The yen has been gathering momentum these past few weeks as risk aversion became predominant in the global market following news of Greece's debt woes, a global manufacturing slump, and rising energy costs. Fears of a debt contagion spreading from Greece to Italy also now factor greatly into risk assessment.

This movement has helped lift the yen against all of its currency rivals, including other safe-havens like the US dollar (USD). The steady, and dovish, monetary policy of the Bank of Japan (BOJ) feeds the yen's appeal as investors find its low yield as an affective store of value. The rate statement released by the BOJ yesterday morning did not change much of this sentiment as rates were kept at their all-time low. Traders appear to be anticipating a continuation of the JPY's appeal as a defense against unwanted risk.

Current Time: 05/27 02:21 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
07/13
	05:30	JPY	Revised Industrial Production	m/m	5.7%	5.7%	6.2%
	06:00	JPY	BoJ Monthly Report		*	*	*