JPY Daily News

Nuclear Threat Sends Yen Soaring

The aftermath of last week's Japanese earthquake and tsunami continue to drive investors to the safe-haven yen. The currency saw huge gains against the US dollar, euro, UK pound and Swiss franc last night before correcting itself during the overnight session.

Analysts attribute the yen's extreme bullish behavior to the ongoing threat of a nuclear disaster in Japan that has caused investors to flock to more stable assets. At the same time, rumors that the Bank of Japan will soon move in to halt the yen's upward momentum have caused some stability to return to the marketplace.

Today, traders will want to carefully watch for any developments in the ongoing fight to contain the potentially significant nuclear threat in Japan. With the full scope of the devastation in the country still unknown and new problems appearing all the time, markets are expected to remain erratic for the time being.

Current Time: 05/26 22:43 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
03/17
	23:50	JPY	Monetary Policy Meeting Minutes		*	*	*