JPY Daily News

Talk of BOJ Intervention Shakes JPY

The Japanese yen (JPY) was seen moving moderately bearish throughout the day following other movements in the forex market. The yen surged beyond previous intervention levels on heightened risk aversion in the global economy due to debt fears in Europe and the United States, but has so far this week held its ground. The BOJ tends to resist an overly strengthened yen for the gouging effect it has on Japanese exports.

Weakening commodity prices, however, are helping offset the losses from an overly powerful yen, as is the general sentiment that the JPY acts as a solid store of value in times of uncertainty. The JPY, therefore, is positioned to continue gaining despite attempts by the BOJ to prevent such an occurrence. It will be worth watching to see if the BOJ intervenes in the days ahead.

Current Time: 05/26 23:20 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
10/07
	01:00	JPY	Monetary Policy Statement		*	*	*
		JPY	BoJ Press Conference		*	*	*
	04:37	JPY	Overnight Call Rate		<0.10%	<0.10%	<0.10%
	06:00	JPY	Leading Indicators		104.6%	103.8%	103.8%