JPY Daily News

JPY Reaches Remarkably High Value in Spot Trading

The JPY rose toward a 7-month high versus the dollar after the biggest decline in U.S. retail sales in three years. It closed at 99.60 at the end of yesterday's trading session. The yen also approached the strongest level in three years versus the EUR closing at 134.55. Analysts claim that the reason for this appreciation can be found in the fundamental news from the Asian giant. As the export-based Japanese economy took advantage of the drop in Crude Oil prices, lowering the transportation costs of Japanese exported goods across the world, the JPY has found strengthening value as a result. As also explained in past analyses, the JPY tends to gain value when the other major currencies falter. Since the global economies are finding more uncertainty and losing ground, the yen is gaining momentum.

For traders today, there is only one data release from Japan that is significant: the Tertiary Industry Activity, which will be released at 23:50 GMT, the end of the day's trading session. The official forecast for this figure is lower from the previous reading. A rising trend will have a positive effect on the nation's currency because it generates more jobs and investment. Today, however, investors should pay closer attention to the JPY's counterparts before placing their transactions. Mapping the movement of the Stock markets worldwide could also provide much needed clues as to the direction of the heavily traded currency.

Current Time: 05/26 21:56 GMT

Add events to google calendar Mark all Unmark all Print

#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
10/16
	00:50	JPY	Tertiary Industry Activity Index	m/m	1.2%	-0.8%	-1.4%