JPY Daily News

JPY Stability Pushes its Value Higher

Traders witnessed the JPY undergo a strong bullish session yesterday versus the Majors. The JPY appreciated almost 400 pips against the USD, setting the pair around the 104.20 level, and rose over 450 pips against the EUR; the pair is now trading around 148.40.

The main reason for the JPY's bullish behavior is of course the breaking crisis in the U.S. that pushed the market to fluctuate excessively yesterday, and as speculations about the Fed cutting interest rates today grow stronger, the JPY extends its rising trend even further. Moreover, the rise in risk aversion led investors to cut the amount of carry trade holdings for higher-yielding assets funded by the JPY, pushing the JPY up against all the major currencies.

Looking ahead today, no significant data is expected from the Japanese economy; however, the market is expected to be anything but stable. The news from the U.S will once again be a main focus for today's trading. Traders should follow it closely, as any crucial information might ignite a new trend in the market. Until then, the JPY might slightly depreciate today, correcting yesterday's trading session.

Current Time: 05/26 22:16 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
09/16
	06:00	JPY	Household Confidence		31.4	31.5	30.1