JPY Daily News

JPY Gaining from Illiquid Markets

The Japanese yen rose against its major counterparts in early Asian deals on Monday. Presently, the yen is trading at 82.45 against the US dollar and 134.90 versus the pound. Against the euro, the yen is trading much higher at 118.70, compared to an early Asian session's multi-month low of 123.35 last week.

Growing concerns regarding Japan have driven the JPY lower recently amid deteriorating fundamentals out of the island economy. But those weakening fundamentals are being offset by debt concerns out of Europe as the European Monetary Union (EMU) persists in dealing with a burgeoning debt crisis that simply won't dissipate. For today traders will want to look to the USD for market direction, but so long as Europe continues to fear rising debt out of Spain and Portugal, going long on the yen may continue to remain appealing.

Current Time: 05/27 02:54 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
04/25
	05:30	JPY	All Industries Activity		-0.5%	0.4%	0.7%