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JPY Daily News
JPY Strength Persists, Weakening Japanese Exports and Manufacturing
The JPY continues to trade in a wide range against the US dollar, suggesting a balancing act between two dominant safe-havens. Against other currencies, however, the Japanese yen appears to be losing some ground. The EUR/JPY moved back above 109.00 today before descending mildly to a current price near 108.80. The GBP/JPY saw similar movements, with a current price of 130.85.
The persistent strength of the yen has pushed Japanese exports lower, driving machine orders down 3.0% over the past month. Japanese consumer sentiment appears to be rising, likely due to the new buying power of Japanese consumers, but this may be tempered with a decline in bank lending and a coinciding reduction in the money supply, which will likely only drive JPY values higher in the long-run, further harming Japanese exports.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 01/13 | ||||||||
| 06:00 | JPY |  Prelim Machine Tool Orders | y/y | 104.2% | * | 63.5% |  | |
| 23:50 | JPY | CGPI | y/y | 0.9% | 1.0% | 1.2% | | |
