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JPY Daily News
JPY Upholds its Safe-Haven Status
Last week, the JPY saw predominantly bullish trends against the major currencies. The JPY rose around 300 pips against the GBP until midweek. However, these massive gains were short-lived, as the British currency made up for some of its losses. The GBP/JPY barely moved in Sunday's trading and closed at 138.47. The JPY took 20 pips out of the USD in yesterday's trading as the pair closed at 98.02. Some of these results show that the Yen rose as a result of the problematic data published from the U.S and the Euro-Zone
As of late, it is clear that Japan is in deep recession. However, its current condition still seems to be better than most of the leading Western countries and that is the main factor pushing the JPY higher as of late. This week traders should look forward to the Japanese Final Gross Domestic Product figures on Wednesday night, as this should be the most intriguing data from the Japanese economy this week. In addition, as proven in the past few weeks, it is the news from the West that is influencing the Yen the most. Traders must keep that under consideration and set their positions on the JPY in accordance.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 03/09 | ||||||||
| 05:00 | JPY |  Economy Watchers Sentiment | 17.1 | 17.3 | 19.4 |  | ||
