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JPY Weakness Growing More Apparent
Those investors trading the JPY lately have taken note of the recent downward trend occurring with this island currency. When the global economic recession began, there was a rush to unwind carry trades when interest rates were being slashed. This helped strengthen the JPY. As economies posted continuous negative data the JPY became a safe-haven. However, nowadays the JPY is also showing signs of continued stress which has investors worried that the Japanese economy may not be able to withstand the rising tide.
Trading at record highs against its currency rivals in recent months, the JPY now stands to lose most of what it has gained. The foreboding of such a disastrous turn of events for Japan, this currency weakness will no doubt harm the island economy in ways which it may struggle to recover from. The JPY is currently trading at its lowest level in 2009, with a reading of 97.55 against the Dollar and 122.67 against the EUR. Traders won't likely see this trend reverse anytime soon.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 03/02 | ||||||||
| 01:30 | JPY |  Average Cash Earnings | y/y | -0.8% | -1.2% | -1.3% |  | |
| 23:50 | JPY | Monetary Base | y/y | 3.9% | 1.9% | 6.4% |  | |
