JPY Daily News

JPY Reaches 4-Year High versus the EUR

The Japanese currency surprisingly gained in relation to its counterparts, despite predictions of a recession and a sudden drop in Japan's stocks yesterday. The JPY gained 153 points on the Dollar yesterday and nearly 600 points versus the EUR, reaching a price not seen since April 2004. The large gains were spurred by perceived future cuts to interest rates in the Euro-Zone and deteriorating economies abroad.

What the market is seeing here doesn't represent fundamental data, but a crutch. Worried investors are still moving away from high yielding currencies and risky assets. Investors move out of these riskier positions and are using the JPY as the fall back, fueling demand and appreciating the JPY against its pairs.

Current Time: 05/26 21:56 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
10/22
	00:50	JPY	Trade Balance		-0.16T	0.14T	-0.03T