JPY Daily News

JPY's Recent Gains Set to Reverse

The Japanese Yen was set to advance itself throughout this week, after gaining steadily against most of its rivals, especially the USD. However, as the Nikkei index opened lower at the start of this week, the Yen's safe-haven move may have ended abruptly this morning. Growing as high as 96.65 against the USD and 127.50 against the EUR, the Yen may now see a correction throughout the impending hours due to poor stock performance and a USD-positive trading session.

With the recent scare over the swine flu outbreak in the United States, the JPY was bought up as an alternative safe-haven against the USD as tourism in the U.S. was expected to drop. Nevertheless, the JPY now appears to be paring off its recent gains as stock markets indicate a lack of confidence in the Japanese currency. Traders may look to the Yen depreciating against most of its currency rivals throughout the next few days, especially with a heavy news week for the JPY which may illuminate the inherent weakness of the island economy.

Current Time: 05/26 22:30 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
04/27
	00:50	JPY	Retail Sales	y/y	-5.7%	-4.8%	-3.9%