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JPY Daily News
JPY Sees Minor Headway after Interest Rate Decision Published
The Japanese yen (JPY) began trading in a bearish direction against most of its currency rivals this week after the Bank of Japan (BOJ) released data which showed the Japanese economy contracting by 0.9% so far this quarter. After a week of ups and downs, the Japanese yen now appears to be in a stronger position and is making gains after this morning's interest rate decision. The dominant stance of risk aversion overarching this week and last had many traders moving in and out of the yen until yesterday evening.
Yesterday, the yen moved down over 100 pips against the US dollar by mid-day as traders fled the shrinking Japanese economy. As of this morning, however, the sentiment appears to have shifted in favor of the JPY. Soft American economic data supported this move and today's rate statement by the BOJ assisted in another rise for the island currency ahead of the week's closing. Should sentiment continue to favor the yen over its counterparts, traders could see further bullishness, particularly against the USD if investors remain bearish on the American economy.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 05/20 | ||||||||
| 04:14 | JPY |  Monetary Policy Statement | * | * | * |  | ||
| 04:14 | JPY | Overnight Call Rate | <0.10% | <0.10% | <0.10% | | ||
| 05:30 | JPY | All Industries Activity | m/m | 0.7% | -5.5% | -6.3% |  | |
| 08:13 | JPY | BoJ Press Conference | * | * | * | | ||
