JPY Daily News

JPY Outperforming Other Currencies despite Poor Data

The Japanese Yen has been on the upside of current market fluctuations. The predominance of risk aversion has led the JPY higher against the majority of its currency rivals. Indeed, the Yen appears to be the only currency beating the US Dollar at present with the price reaching a 2-week high of 88.80 in yesterday's closing hours.

Fundamental data does not seem to support the majority of Japan's recent currency gains. Core figures from the Japanese economy are still declining and the recent recall crisis for Toyota is damaging the desirability of Japanese industry. However, the JPY tends to fare well when the economy is performing badly, so the recent growth is supporting this notion. If Japan's economy cannot turn around in the nearest future, the JPY could continue its bullish trend into the month of March.

Current Time: 05/27 03:16 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
02/26
	05:00	JPY	Housing Starts	y/y	-15.7%	-11.6%	-8.1%