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JPY Daily News
JPY Drops from Surging Risk Appetite and Dollar Strength
What most analysts are now calling Friday's biggest loser, the Japanese yen suffered more than any other currency following the release of America's Non-Farm Payroll data. The JPY indeed plummeted to price levels near 2009 lows against the EUR and GBP, prices of 138.69 and 163.08, respectively. Against the USD, the JPY dropped to 97.76, a price level unseen since mid-June.
The surge in risk appetite, and the sudden spike of the USD combined to put insurmountable pressure on the island currency last Friday, causing major breakouts to occur in the moments after the release of the NFP report. With a surprisingly heavy news week for the Japanese currency ahead of forex traders, there is the possibility for this bearishness to continue, since many are expecting positive results which may likely boost the appetite for risk in the market and thus put additional selling pressure on the traditional safe-havens like the JPY and USD.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 08/10 | ||||||||
| 06:00 | JPY |  Economy Watchers Sentiment | 42.2 | 43.4 | 42.4 |  | ||
| 07:00 | JPY | Prelim Machine Tool Orders | y/y | -72.8% | * | -72.2% | | |
