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JPY Daily News
Number of Indicators Set to Impact Yen Today
While the Yen has been trading with mixed results against its major counterparts as of late, today's British and American economic reports will likely lead to a more stable direction for the Japanese currency. Providing the British Current Accounts report remains unchanged from last month as forecasted, investors will likely shy away from risk taking. This could boost the safe haven Yen in afternoon trading. This sentiment could be reinforced if the U.S. Consumer Confidence survey comes in line with expectations.
That being said, traders should be warned that any unexpected results from either indicator may cause risk taking, likely leading to the Yen falling. With no significant JPY news events scheduled for today, it appears the Yen will have to rely on external indicators for its direction in trading.
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