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JPY Daily News
Rising US Dollar Outpaces JPY for First Time in Weeks
Despite depreciating in value against the USD, the JPY saw bullish trends against most of its other major currency counterparts. The USD was unusually strong yesterday as a result of Fed Chairman Ben Bernanke's speech yesterday. The JPY showed its strength against the rest of its crosses later in the trading session, however, especially against the other major currencies as it saw a 150 point rise against the GBP, and a 120 point rise against the EUR.
There will only be one data release from Japan today as All Industries Activity will be announced during the later trading sessions. The official forecast for this measure is lower than the previous reading and a rising trend will have a positive effect on the nation's currency. Traders should pay close attention to the response of equity markets to the rising dollar to determine how to continue with JPY positions.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 10/21 | ||||||||
| 00:50 | JPY |  All Industries Activity Index | m/m | 0.8% | -1.6% | -1.8% |  | |
