JPY Daily News

JPY Plummets against the Major Currencies

The Japanese Yen fell against its most traded currencies on Thursday as the leading economies published a string of optimistic figures. This led to global stocks rising for a 3rd straight week, reducing demand for the relative safety of the Japanese currency. Looking at the bigger picture; positive economic data, rising stocks and better-than- expected earnings improved risk appetite, analysts said. Additionally, the improved risk appetite means that the safe-haven currencies will weaken further.

A wave of Japanese mutual funds will be launched today, keeping the Yen soft against the U.S Dollar and higher-yielding currencies, such as the Australian Dollar. But in the near term, the rush in the launching of these funds is expected to have only a limited impact, as a rally in global stocks and commodities in the past few weeks has made fund managers cautious about immediately putting money to work, many traders believe.

Current Time: 05/26 21:50 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
07/31
	06:00	JPY	Housing Starts	y/y	-30.8%	-31.0%	-32.4%