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JPY Expected to Continue Gaining Despite Today's Early Setback
While losing almost 100 points against the USD and EUR during today's early trading hours, the JPY is still being forecast by most analysts to gain strength throughout the coming week. It seems risk aversion and decreasing Interest Rates around the world are making the Yen a more attractive investment.
This may actually come as a shock, however, to those who have been following the recent economic news coming from Japan. It seems the Japanese economy is no better off than those of Europe or the United States. This ties back into the fact that the JPY acts as a counter-cyclical currency which is designed to strengthen as global economies falter, and weaken as the world gets stronger. This valuation strategy by the Bank of Japan helps boost the ability of Japanese companies to export around the world with greater ease, but retain purchasing power in times of economic crisis. As a result, the JPY may indeed continue to gain momentum in the coming weeks as the economic recession is far from over.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 12/08 | ||||||||
| 05:00 | JPY |  Economy Watchers Sentiment | 22.6 | 20.0 | 21.0 |  | ||
| 23:50 | JPY | Final GDP | q/q | -0.1% | -0.2% | -0.5% | | |
| 23:50 | JPY | Final GDP Price Index | y/y | -1.6% | -1.6% | -1.6% | | |
