JPY Daily News

JPY Makes Big Gains on Dollar, EUR

The Japanese yen strengthened against most of its major currencies yesterday as a slump in stock prices due to increased profit taking reduced demand for higher-yielding and riskier assets. The yen climbed to multi-day highs against its major counterparts. The JPY ended yesterday's trading up at 96.15 against the USD, and has continued to hold these gains through today's early trading hours.
Japan's current-account surplus narrowed for a second month in March as exports tumbled amid the global recession. Any revival of demand for the country's cars and electronics may be slow, even after the drop in shipments to the U.S. and China, Japan's two largest markets, eased in March. The International Monetary Fund (IMF) says the global recession will be deeper and the recovery slower than earlier predicted as financial markets take longer to stabilize.
It will be interesting to see how the local Japanese data will interact with equity market movement for the rest of the week in relation to the JPY's recent behavior

Current Time: 05/27 03:13 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
05/13
		JPY	BoJ Gov Shirakawa Speaks		*	*	*
	06:00	JPY	Economy Watchers Sentiment		28.4	30.1	34.2