JPY Daily News

JPY Running out of Steam

Japan recently stated that it would allow for up to 10 trillion yen to be injected into its banks. The initial amount of this rescue package was just 2 trillion yen. The reason for the increase is that the recent financial turmoil and housing crisis has dampened the economy to a point where 2 trillion yen simply would not do the job to fix the anticipated problems.


After climbing as high as 91.80 versus the USD last week, the JPY has started a slight correction to its recent bullish run and now stands close to the 94.00 mark. As Japan's economy begins to feel the effects of the global recession, its currency is not predicted to gain as much as it has in recent weeks, and will likely see a stronger correction in the near future.

Current Time: 05/26 22:03 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
10/27
	23:50	JPY	Retail Sales	y/y	0.7%	-0.4%	0.0%