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JPY Daily News
JPY Back on the Rise from Weakened Carry Trades
The Japanese currency advanced against the EUR on speculation that the world's biggest economies will contract, prompting investors to sell higher-yielding assets and pay back loans in JPY. Investors have been reducing carry trades, where they obtain funds in a country with low borrowing costs and buy assets where returns are higher. Japan's 0.3% target lending rate is the lowest among major economies.
The Yen also rose against the Dollar as Asian stocks extended losses on concern a recession will reduce corporate earnings. It gained to 97.78 against the Dollar from 98.00. The market's current sentiment seems to be in favor of further Yen gains. A weak stock market causes a reversal in risk trades, which is supportive of the JPY. The EUR is vulnerable because the economic outlook points to lower Interest Rates in the future. Analysts forecast that there is a possibility that the Yen could rise to 97.30 per Dollar and 124.20 against the EUR in today's trading session.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 11/11 | ||||||||
| 05:00 | JPY |  Economy Watchers Sentiment | 28.0 | 27.4 | 22.6 |  | ||
